Selling Estate Items Probate

Summary

In New Mexico, selling estate items during probate requires court approval, regardless of their market value. Executors must notify heirs and sell items at fair market value. The small estate threshold is $50,000, excluding mortgage debt. Executors should consult the probate court or a local attorney for guidance on obtaining court approval and proceeding with a small estate affidavit.

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My grandma passed recently and I am falling to be approved the executor of the estate I wanted to know if I'm able to sell any of the Avon products that she has left over while in probate
Hi Kelly! I'm sorry for your loss. Generally, when an estate is in probate, the executor cannot sell any estate assets without court approval. You should consult with the probate court or a local attorney to confirm the specific rules in New Mexico.
Would you like more information on how to proceed with this?
What are the specific rules about selling items during probate in New Mexico
Hi Kelly! Here are some specific rules about selling items during probate in New Mexico:
- Court Approval: The executor must obtain court approval before selling any estate assets.
- Notice to Heirs: Heirs must be notified of the sale.
- Fair Market Value: Items should be sold at fair market value.
Would you like information on how to get court approval or notify heirs?
These items are not worth fair market value they are worth less than years old but I still need approval
Hi Kelly! Even if the items are worth less than their fair market value, you still need court approval to sell them during probate. You may want to present this information to the probate court.
Would you like guidance on how to request court approval?
In the state of New Mexico to do a small estate it has to be under $*,* now would this include her mortgage loan that's at $*,* so she wouldn't apply for a small estate probate
Hi Kelly! In New Mexico, the small estate threshold of $*,* typically refers to the value of the estate's assets, not including the mortgage loan. The mortgage is a debt and would be subtracted from the estate's total value.
Would you like more information on how to proceed with a small estate affidavit?