March 28, 2008, Newsletter Issue #131: The Conduct Of Estate Auctions

Tip of the Week

Estate Auctions are usually conducted either by or at the request of the executor of the estate. In most cases, the executor, usually an attorney or next of kin, contracts an auction house to auction off the estate. If no executor has been named and there is no next of kin, the state may contract an auction house to auction off the estate in order to recoup outstanding debts. The auction itself may take place at any number of places, including auctions houses or on the property to be auctioned. During the course of the auction, all of the assets of the estate are put up for bidding, including both real property and the personal items of the deceased.

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