Q: Are there any circumstances where a PR/Beneficiary must wait a time period before selling estate property?
My mother's estate was opened in VA in Jan. She owned a home in MD. I am being told there is a mandatory 6 months waiting period per MD law so that Creditors can file a claim. However I was under the impression the property could be sold immediately but the proceeds would then be held in escrow for the 6 month for the creditors claims (thus avoiding having to pay mortgage unnecessarily for any extra period of time). Can you please clarify?
A: Maryland law does not mandate waiting 6 months to market/sell property, but proceeds should not be disbursed to heirs until 6 months have passed, any payments are prioritized according to the order set forth in MD law and the court has approved the accounting.
While not legal advice, I hope the general information above helps. You may find it helpful to engage counsel in Maryland to assist with any estate proceedings here.
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