In NSW, an inherited property is usually sold by the executor named in the will, once the Supreme Court has granted probate, or by an administrator under letters of administration if there is no will. A contract can sometimes be exchanged before the grant, but settlement generally cannot happen until the executor or administrator has authority to transfer the property.
In Padstow, Revesby and the surrounding suburbs, many long-held family homes come to market after a parent passes away. Marcelino sees beneficiaries who want to sell quickly and finalise the estate, which is understandable, but timing needs care.
Who can sell?
| Situation | Who signs the contract | Authority needed |
|---|---|---|
| There is a will | The executor or executors | Grant of probate |
| There is no will | The administrator | Letters of administration |
| The property was held as joint tenants | The surviving owner | Death certificate and an application to record the death on the title |
| Several beneficiaries | Still the executor, not each beneficiary | Probate |
Steps to sell an inherited property
- The executor applies for probate, usually through the estate's solicitor
- Secure the property, keep it insured and maintain it
- Gather documents: the will, death certificate, title details and any approvals
- Engage a conveyancer to prepare the contract
- Agree the price and sale method with the beneficiaries
- Exchange, with a settlement date that allows for the grant if it is not yet issued
- Settle and pay the proceeds to the estate
Things to watch
- Insurance. A vacant home may need a different policy. Tell the insurer
- Old approvals. Long-held homes often have extensions, pools or sheds built decades ago. Check approvals before listing
- Pool certificates. Needed before the property can be marketed
- Disagreements between beneficiaries. The executor makes the decisions, but agreement makes the sale smoother
- Tax. Capital gains tax and other tax questions should go to the estate's accountant
We handle the conveyancing for the sale. The probate application and estate administration are usually handled by a solicitor, and we work alongside them.
Common questions
FAQs
Can I sell before probate is granted?
You may be able to exchange, but settlement usually has to wait for the grant. Set the settlement date carefully.
Do all beneficiaries need to sign?
No. The executor or administrator signs.
Can a beneficiary buy the property?
Yes, but the price and process should be fair to all beneficiaries. Get advice first.
Sources: NSW Supreme Court: probate · NSW Land Registry Services
City Peak Conveyancing acts on NSW property only. This page is general information, not advice about your circumstances.