Reasons For An Estate Sale
The most common reason for an estate sale is the death of the property owner, and the consequent need to quickly liquidate the deceased's belongings. The survivors may have no interest in the bulk of the personal belongings left by the deceased, or may simply lack space to keep the belongings. In situations in which the survivors cannot agree to the disposition of tangible property, a court may order the goods to be sold in an estate sale with the proceeds to be divided among the survivors. Such a sale and division may also be mandated in the will of the deceased.
An estate sale may also occur because the property owner will be moving or has moved into a situation where he will be unable to keep his property—for example, a move to an assisted living facility, a retirement community, a rest home, or other living quarters.
An estate sale may also take place because of divorce, foreclosure, and relocation. In many regions hit hard by the foreclosure crisis, property owners are electing to liquidate their possessions. Often times these individuals are forced to move to an apartment and or family member's residence.
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