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WHAT IS AN ESTATE SALE

by admin
March 31, 2014
Category:   Uncategorized

An estate sale or estate liquidation is a sale or auction to dispose of a substantial portion
of the materials owned by a person who is recently deceased or who must dispose of his or her personal
property to facilitate a move.

 

The most common reason for an estate sale is
the death of the property owner,[2] and the

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consequent need to quickly liquidate the deceased’s belongings
for any number of reasons:

The survivors/heirs may have no interest in the bulk of the personal belongings left by the deceased
The survivors/heirs may simply lack space to keep the belongings
The survivors/heirs cannot agree to the disposition of tangible property, and thus a court has order the
goods to be sold in an estate sale with the proceeds to be divided among the survivors
(after payment of the estate’s debts)
The will of the deceased may have mandated a sale of assets
An estate sale may also occur because the property owner will be moving or has moved into a new residence
where he will be unable to keep his property, such as an assisted living facility, a retirement community,
a rest home, or the home of a family member.

An estate sale may also take place because of divorce, foreclosure, or relocation.


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