For Personal Representatives, what key check must be satisfied?

For Personal Representatives, what key check must be satisfied?

• A. Consent by other lender is always first in line
• B. The property occupation status
• C. Power to sell exists and has arisen
• D. The executor's personal bank statements

Answer: (C)

The essential check is that there is a power to sell in being and that it has arisen. Personal representatives acquire the authority to deal with the estate’s assets, including real property, only after the grant of representation (probate or letters of administration) has been issued. Once that grant is in place, the power to sell the estate’s property exists and can be exercised on behalf of the estate. If the grant hasn’t been obtained, or if the power hasn’t arisen, a sale would be beyond the personal representative’s authority and could be invalid or expose them to liability. Consent from a lender, occupancy status, or the executor’s personal bank statements don’t establish or replace this authority. A sale can proceed once the grant has been issued and the power to sell has arisen, regardless of those other factors.

The essential check is that there is a power to sell in being and that it has arisen. Personal representatives acquire the authority to deal with the estate’s assets, including real property, only after the grant of representation (probate or letters of administration) has been issued. Once that grant is in place, the power to sell the estate’s property exists and can be exercised on behalf of the estate. If the grant hasn’t been obtained, or if the power hasn’t arisen, a sale would be beyond the personal representative’s authority and could be invalid or expose them to liability.

Consent from a lender, occupancy status, or the executor’s personal bank statements don’t establish or replace this authority. A sale can proceed once the grant has been issued and the power to sell has arisen, regardless of those other factors.