How Soon Can I List an Estate?

Question:

The Owner just passed away. How soon can I list the property for sale?

Answer:

If there is a Will, then the Estate Trustee has authority to act including listing the property for sale from the moment of death. The Estate Trustee may also sign an Agreement of Purchase and Sale. However, they can’t sign the Transfer/Deed

If there is no Will, then you will have to wait until someone is appointed by the Court as the Estate Trustee. This could take several months. It’s not quick.

It should be noted that until there is a Court Order confirming the appointment in the case of an Estate Trustee with a Will, the conveyancing documents cannot be signed. This means that you could list the property, sign an Agreement of Purchase and Sale, however, you would have to wait for the Court Order before closing.

Assembling the information and values- 3 to 5 months

Application – 3 to 6 months

Covid hasn’t helped, add another 2 to 3 months here.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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