Steps to Bring Real Property into an Estate in Missouri to Pay Claims

Disclaimer: This article provides general information and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.

Detailed Answer

Under Missouri law, a personal representative must follow specific steps to convert real property into cash for paying valid estate claims. Below is a step-by-step overview:

1. Open Probate. File a petition for probate in the circuit court of the county where the decedent lived. See RSMo § 473.036. The court appoints a personal representative.
2. Qualify as Personal Representative. After appointment, file an oath and post bond (if required) under RSMo § 472.070 to qualify for the role.
3. Inventory and Appraisal. Within 60 days of qualification, inventory all estate assets—including real property—and file under RSMo § 473.065. Obtain a professional appraisal to establish value.
4. Petition for Sale of Real Property. To sell estate real property, file a petition under RSMo § 473.360. Describe the asset, state the purpose of sale, and propose sale terms.
5. Notice to Interested Parties. Provide written notice of the sale petition and hearing date to heirs, devisees, and creditors at least 20 days before the hearing, per RSMo § 473.164.
6. Court Hearing and Order. Attend the hearing. If the court finds the sale fair and necessary, it issues an order authorizing the sale under the approved terms.
7. Conduct the Sale. Sell at public auction or by private treaty if the court permits. Aim for the highest obtainable price to protect estate interests.
8. Report of Sale and Confirmation. File a report of sale and petition for confirmation under RSMo § 473.187. Once confirmed, transfer title and clear any liens.
9. Distribute Proceeds. Deposit net proceeds into the estate account. Pay allowed claims in priority under RSMo § 473.770, then distribute any surplus to heirs or devisees.

Helpful Hints

• Review the legal description carefully before filing the sale petition.
• Obtain a recent, qualified appraisal to support the sale price.
• Serve notice accurately and on time to avoid delays or challenges.
• Maintain detailed records of all filings, notices, and sale documents.
• Consider consulting an attorney if disputes arise over valuation or sale necessity.