If you have become the administrator of an estate and you have to sell some of the vehicles that were left behind by the deceased, there are a few things you want to do first. You want to stop pulling money from the estate, and you want to get the vehicles sold as quickly as possible if you have approval from a judge. Here are a few of the things you want to do.
Get the Title and Registration Paperwork
You will have to get the vehicle put in your name so you can sell it, or you at least need to have a title so you can sell it under the estate. Here are the things you need when you go to the DMV:
- Death certificate of previous owner
- Administrator of estate paperwork
- Previous titles or registration paperwork
- Proof of insurance if needed
Once you have all these things, you can get a new title of the vehicle, and then you can sell it easily. At the time a buyer is interested, you want to make the transaction. You don't want to wait until you have an interested buyer to get around to getting the paperwork in order.
Keep the Insurance Paid
You don't want the car to get damaged while it sits in a driveway, while it's being test driven, or at any other time. Use money from the estate to keep insurance coverage on it, so you can get it repaired at no cost to you if there is ever a problem. This helps you maintain the value if there is an accident.
Use a Free Listing Service
There are many social media outlets and online classified sites that allow you to post listings for free, so you don't have to take money out of the estate for advertising. With some high quality pictures and detailed information, it shouldn't be hard to get rid of the vehicle.
There are so many different things that you'll want to consider doing when it comes to getting the car ready to sell, and selling it so you can put the money towards the estate. If you are a new administrator to an estate from someone who has passed, and selling the car is necessary to pay off some of the bills, or so there is money left for people left behind, do these things to get the sale moving quickly.