Probate Sale Law and Legal Definition
Probate sale is a process executed in the U.S. county courts. In this process, the deceased person’s property is divided among the beneficiaries by selling property from the estate of the deceased person. The sale is done by the executor for the deceased person’s estate. When a will is subject to probate, there may be property which must be disposed of pursuant to a sale. This sale is also known as a probate sale. The purpose of a probate sale can be one of the following :
1 for the estate to get money to pay off debts of the decedent or to liquidate the assets of the estate.
2 to liquidate the assets of the estate.