Estate Sales

Listing a property that is part of Estate requires extra considerations, sensitivity and protocol. Purchasing an Estate Sale also requires careful consideration, however, they also provide an excellent opportunity to Buyers, as the Executor and Beneficiaries are usually motivated to sell.

To see a list of Estate Sale properties currently for sale in the Metro Vancouver and Fraser Valley area, please click here.

Title Search

• We need a title search to confirm the deceased it on the title. We need to confirm also if there are any joint tenants on title.
• If there is no surviving joints tenants, the will needs to confirm who the executor is and the executor needs to apply to the Supreme Court of BC to obtain Grant of Probate. This will allow the executor to transmit the property title from the deceased’s name into the name of the estate. Once the property is in the name of the estate then the executor can transfer the property into one our more beneficiaries or liquidate the property through a sale.
• It is important to note, the probate application process can take 3-6 months, and a sale or transfer of the property cannot take place until a Grant of Probate is obtained. However, the property can be put on the market for sale with a seller’s condition to obtain the Grant of Probate. The executor should consult an estate lawyer regarding the process.
• If there is no will then the family member(s) need to apply to the Supreme Court of BC to obtain Letters of Administration, which will appoint the applicant as an administrator of the decreased. The process is similar to Probate in which it would take 3-6 months to obtain Letters of Administration. The administrator has no immediate legal authority, so the administrator should await the Letters of Administration before entering into any contracts.
• When taking over as the executor, it is important to consider the following taxes: Empty Homes Tax, School Tax, Speculation Tax, Probate Tax