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Why Do Courts Review Estate Sales?
Question: Why are estate sales often subject to court review?
Answer: In many states, property sales made by an estate are subject to court review. The reason is that real property is typically a major asset within an estate, and if such a major asset is sold for less than full market value the interests of the heirs could be injured (and, of course, perhaps the estate will be diminished and less taxes collected). In some cases, however, it is possible to get a good deal on estate property because the heirs often want to sell within nine months for tax purposes.
Written by Peter G. Miller.
© 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices.
Copyright © 2012 Realty Times. All Rights Reserved.
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