Selling the home to pay off debt

[wmcot]

Selling the home vs. foreclosure

What is the name of your state?Colorado

From reading the documents that I was given when filing informal probate on my brother's estate, it appears that I can go ahead and sell his town home to help pay of his debt.

I have also heard that I must wait a year before selling the home in some states. Which version is correct?

Is there anything I should watch out for when selling his home and liquidating his belongings?

---Should I worry about selling the home at all since I doubt there is enough in it to pay off his credit cards, medical bills, etc. or should I let the creditors put liens on it and allow it ot go into forclosure?

What are my duties as PR in this case????

 

[lwpat]

What are my duties as PR in this case????

The probate court should have given you some information. You need to read it since the laws vary from state to state. You can also ask the clerk. They can tell you the law but cannot give legal advice. Some courts also hold informational classes.

Is there anything I should watch out for when selling his home and liquidating his belongings?

Be sure to keep a complete record of income and expenses and pay the bills in correct order mandated by the state. You are entitled to a fee.

I would go ahead and sell the home. This is probably the quickest way to get everything settled.