When a person passes away, the executor is responsible for ensuring that every request in the will is carried out per the deceased’s instructions. This includes ensuring that all of the deceased’s debts are settled, and that all beneficiaries receive what they’re owed. This process is known as probate.
If there’s any property in the will, the executor may be required to sell this property to cover any outstanding debts. In this post we’ll outline the timeframes for this process, and examine whether the executor has a legal duty to sell the property within a certain amount of time.
The probate process can be challenging for everyone involved, from the executor to the beneficiaries. At Anthony Jones, we’re committed to helping you get the cover you need throughout the process, and beyond. For more information, get in touch with us, call us on 0208 8290 9086 or you can email the team direct at personal@anthonyjones.com.
How Long Does an Executor Have to Sell a House?
There is no law specifying a time frame for selling a house after a person’s passed away. Executors are generally expected to act as promptly as possible, and to work proactively so as to avoid any unnecessary delays.
Before the executor can do anything with the property, they will have to apply for a grant of probate. This is a legal document that gives the executor the right to deal with assets such as property.
How Long Does It Take To Get Grant of Probate?
It can take around 12 weeks just to get a grant of probate. While the executor can list the property for sale before getting probate, they cannot complete the sale without probate.
How Long Does The Executor Have To Pay Inheritance Tax?
The executor may also have to pay inheritance tax on the estate within six months. Some executors use the sale of property to cover this tax, but there may be complications that delay the process.
How Long Should The Probate Process Take?
The whole probate process, from start to finish, can take up to 12 months to complete. Though unfortunately, delays are very common.
Is The Executor Taking Too Long to Sell The House?
In the world of wills and probate, you might sometimes hear the term “executor’s year”. Though it’s not a statutory time limit, it’s generally accepted that an executor will take around a year to take care of everything.
Read our guide to an executor’s responsibilities and it should become clear why it can take up to a year to settle an estate. In short, executors take on a lot of duties and responsibilities.
If it’s been over a year and the executor still hasn’t settled the will, or if months have passed and the executor is yet to carry out some key tasks, then other beneficiaries in the will may wish to take action.
Judges can issue executors with a citation notice, which can force the executor to proceed with certain actions to progress the probate process. Or beneficiaries might make a formal application to the court so as to remove the executor completely from the process.
Read our full guide to your options if you feel the executor’s taking too long to complete the process.
Why Probate Delays Are Problematic
Probate delays are stressful for everyone involved, as beneficiaries will not receive their inheritance until the process is complete.
But probate delays can be particularly problematic if any property is involved in the will. As we mentioned above, executors cannot start the sale of the property until they have a grant of probate. If they have to sell the property to pay inheritance tax, for which there’s a six month deadline, any delays can place executors in a tricky situation.
But if anyone’s set to inherit the property in the will, then the beneficiary will not be able to do anything until probate is complete. This can create some additional problems. Throughout the probate process, the property may be classed as “unoccupied”. And unfortunately, most home insurance policies only cover occupied homes.
Get The Cover You Need For Property Throughout the Probate Process
If there’s any property involved in the will, the executor may be held responsible for keeping the property safe and secure throughout the process. As part of this, you may have to get some dedicated probate insurance, to cover the house until the probate process is complete.
At Anthony Jones, we can help you get the cover you need throughout the probate process, so you can keep any property safe for as long as it’s unoccupied. For more information, get in touch with us, call us on 0208 8290 9086 or you can email the team direct at personal@anthonyjones.com.
