Ohio Code 2113.40 – Sale of personal property
(A) At any time after the appointment of an executor or administrator, the probate court, if satisfied that it would be for the best interests of the estate, may authorize the executor or administrator to sell at public or private sale, at a fixed price or for the best price obtainable, and for cash or on the terms that the court may determine, any part or all of the personal property belonging to the estate, except the following:
Terms Used In Ohio Code 2113.40
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Decedent: A deceased person.
- Executor: A male person named in a will to carry out the decedent
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Personal property: All property that is not real property.
- Probate: Proving a will
- Property: means real and personal property. See Ohio Code 1.59
(1) Property that the surviving spouse desires to take at the appraised value;
(2) Property specifically bequeathed, if the sale of that property is not necessary for the payment of debts, provided that the property may be sold with the consent of the person entitled to the property, including executors, administrators, guardians, and trustees;
(3) Property as to which distribution in kind has been demanded prior to the sale by the surviving spouse or other beneficiary entitled to the distribution in kind;
(4) Property that the court directs shall not be sold pursuant to a wish expressed by the decedent in the decedent’s will; but at any later period, on application of a party interested, the court may, and for good cause shall, require the sale to be made.
(B) In case of a sale before expiration of the time within which the surviving spouse may elect to take at the appraised value, not less than ten days’ notice of the sale shall be given to the surviving spouse, unless the surviving spouse consents to the sale or waives notice of the sale. The notice shall not be required as to perishable property.
(C) The court may permit the itemized list of personal property being sold to be incorporated in documents and records relating to the sale, by reference to other documents and records that have been filed in the court, provided that a court order shall not be required to permit the public sale of personal property.