Q: Vacant land to be sold before other asset distribution?
My wife's father died (no spouse) in Tennessee with a will which states everything is is to be split between six siblings. Her sister is executor of the estate and the will has been probated. The four month waiting period has passed. A parcel of vacant property is included with the inheritance along with bank account, bonds, and other property which has been appraised (Cars, Guns,etc.). All siblings are now considered "Tenants in Common" with the vacant property. A decision has been made to sell the property and distribute the proceeds equally. Selling the property could take a fair amount of time. Does the vacant property have to be sold first before other proceeds are distributed.
A: More than likely yes as most Probate Judges will not order asset distribution without all claims paid. And 4 months is just the start, creditors actually have a year from death of the decedent to file claims usuually. Thus it is hard to properly close an estate earlier than 16 months or so. Often I will get partial distributions, but only after virtually any possible claim has been satisfied.
Nina Whitehurst agrees with this answer
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