Petition For Authority To Sell Property

There are all sorts of forms executors, beneficiaries, and probate court clerks have to fill out and correspond with during probate and estate settlement, including affidavits, letters, petitions, summons, orders, and notices.

Petition For Authority To Sell Property is a commonly used form within Iowa. Here’s an overview of what the form is and means, including a breakdown of the situations when (or why) you may need to use it:

Atticus Fast Facts About Petition For Authority To Sell Property

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Petition For Authority To Sell Property:

• This form pertains to the State of Iowa

Government forms are not typically updated often, though when they are, it often happens rather quietly. While Atticus works hard to keep this information about Iowa’s Form PMF 501 - Petition For Authority To Sell Property up to date, certain details can change from time-to-time with little or no communication.

Step 1 - Download the correct Iowa form based on the name and ID if applicable

Double check that you have both the correct form name and the correct form ID. Some Iowa probate forms can look remarkably similar, so it’s best to double, even triple-check that you’re using the right one! Keep in mind that not all States have a standardized Form ID system for their probate forms.

Step 2 - Complete the Document

Fill out all relevant fields in Form PMF 501, take a break, and then review. Probate and estate settlement processes in IA are long enough to begin with, and making a silly error can push your timeline even farther back. No thank you!

Note: If you don’t currently know all of the answers and are accessing Form PMF 501 online, be sure to avoid closing the browser tab and potentially losing all your progress (or use a platform like Atticus to help avoid making mistakes).

Step 3 - Have Form PMF 501 witnessed or notarized (if required)

Some States and situations require particular forms to be notarized. If you have been instructed to get the document notarized or see it in writing on the document, then make sure to hire a local notary. There are max notary fees in the United States that are defined and set by local law. Take a look at our full guide to notary fees to make sure you aren’t overpaying or getting ripped off.

Step 4 - Submit Petition For Authority To Sell Property to the relevant office

This is most often the local probate court where the decedent (person who passed away) is domiciled (permanently resides) or the institution involved with this particular form (e.g. a bank). Some offices allow you to submit forms online, other’s don’t, and we while we generally recommend going in-person to expedite the process, sometimes that simply isn’t an option.

It’s also a generally good idea to establish a positive working relationship with any probate clerk (unfortunately there’s enough people & process out there making things more difficult and unnecessarily confusing for them), so a best practice is to simply ask the probate clerk proactively exactly how and where they’d prefer you to submit all forms.

Need help getting in touch with a local probate court or identifying a domicile probate jurisdiction?

👉 Find and Contact your Local Probate Court

👉 What is a Domicile Jurisdiction?

Sponsored by Atticus App

Need help with Iowa Probate?

Join all the other families who have trusted Atticus through probate, and experience the peace that comes from knowing you're taking the right steps, spending the least amount of money, and not wasting a single second.

Start for free

Different probate forms or processes can require different deadlines or response times for completing the appropriate form.

While some steps in the process are bound to specific deadlines (like petitioning for probate, having to submit an inventory of assets, or filing applicable notices to creditors and beneficiaries), many probate forms or processes are not tied to a specific deadline since the scope of work can vary based on situational factors or requirements involved.

Either way, there are a bunch of practical reasons why personal representatives should work to complete each step as thoroughly and quickly as possible when completing probate in Iowa.

5 reasons you should submit PMF 501 as quickly as possible:

1. The sooner you begin, the faster Iowa can allow heirs and beneficiaries to get their share of assets subject to probate. Acting promptly can also decrease the costs & overall mental fatigue through an otherwise burdensome process.
   
   Helpful Context: What’s the Difference Between Probate and Non-Probate Assets?

2. In general, creditors of an estate usually have around 3-6 months from the time you file notice to creditors to file any claims for debt against the deceased’s assets. If they don’t, then that debt is forfeited (and more importantly, the executor won’t be held personally responsible). So doing this sooner means you have a better idea of who is owed what and ensures you won’t get a surprise collector months later.

3. Not filing a will within 30 days (on average) could mean that the probate process proceeds according to intestate laws (laws that govern what happens to someone's stuff without a will) or is subject to unnecessary supervision by the probate court. And if you aren't directly related to the deceased (a.k.a. next of kin), this could also mean you lose your inheritance.

4. It’s important to file any necessary state tax returns on behalf of the deceased or estate by the following tax season in Iowa. If you don’t, you could owe penalties and interest. This also includes any necessary federal tax returns such as Forms 1040, 1041, or even a Form 706 estate tax return.

5. If a house in the State of Iowa is left empty (or abandoned) for a while, insurance can get dicey. For example, if the house burns down and no one has been there for a year, an insurance company may get out of paying your claim.

If you’re not using Atticus to get specific forms, deadlines, and timelines for Iowa probate, then try and stay as organized as possible, pay close attention to the dates mentioned in any correspondence you have with the State’s government officials, call the local Iowa probate clerk or court for exact answers regarding Form PMF 501, and when in doubt— consult a qualified trust & estates lawyer for that area.

Petition For Authority To Sell Property is one of the many probate court forms available for download through Atticus.

It may also be available through some Iowa probate court sites, such as . In order to access the latest version, be updated with any revisions, and get full instructions on how to complete each form, check out the Atticus Probate & Estate Settlement software or consider hiring a qualified legal expert locally within Iowa.

While Atticus automatically provides the latest forms, be sure to choose the correct version of Form PMF 501 - Petition For Authority To Sell Property f using any other site or resource in order to avoid having to re-complete the form process and/or make another trip to the Iowa probate court office.

Petition For Authority To Sell Property is a .pdf, so opening it should be as simple as clicking “View Form” from within the Atticus app or by clicking the appropriate link found on any Iowa-provided government platform. Once you’ve opened the form, you should be able to directly edit the form before saving or printing.

Here’s the text, verbatim, that is found on Iowa Form PMF 501 - Petition For Authority To Sell Property. You can use this to get an idea of the context of the form and what type of information is needed.

PMF 501 IN THE IOWA DISTRICT COURT FOR COUNTY IN THE MATTER ) Probate No. _____________________ ) OF THE ESTATE OF ) PETITION FOR AUTHORITY ) TO SELL PROPERTY , ) Deceased. ) STATE OF IOWA, COUNTY OF , ss. The undersigned being first duly sworn (or affirmed) states: 1.At death, the Decedent owned property more particularly described as follows (If real estate, use legal description): _______________________________________________________________ 2.The property must be sold for (explain reasons): _______________________________________________________________ 3.__ [OPTION 1] All interested persons have waived notice of hearing on this Petition and Report and have consented to the proposed sale and the waivers are on file. __ [OPTION 2] The undersigned and all other interested persons have waived notice of hearing on this Petition and Report and have consented to the proposed sale and the waivers are on file. __ [OPTION 3] All interested persons are entitled to notice at least 20 days before the hearing date unless the court finds good cause for shortening the period. 4.The property should be sold upon the terms and conditions set forth in the Purchase Agreement attached as Exhibit A, for (insert statutory purpose): _______________________________________________________________ 5.The statements made in this Petition are true to the personal knowledge and belief of the undersigned. WHEREFORE, the Personal Representative requests that the Court: 1.__ [OPTION 1] Authorize the sale of the property described in this Petition and confirm and approve the reported sale, without further notice. PMF 501 __ [OPTION 2] Enter an order setting the time and place of hearing on this Petition and prescribe the manner of notice. 2.Authorize and direct the Personal Representative to execute and deliver a _________________ to _______________________________ upon receipt of the proceeds of the sale, and to pay the reasonable and necessary expenses of the sale. 3.Authorize the Personal Representative to execute all other instruments and perform all other acts necessary or appropriate to complete the sale. Personal Representative Signed and sworn to (or affirmed) before me this day of , 20 . Notary Public PMF 501 COMMENTS 1. §633.388 requires that the petition describe the reasons for the application and describe the property involved. §633.386 sets forth the purposes for which real or personal property may be sold. 2. According to §633.389, petitions regarding personal property and leases of real property not to exceed one year, may be heard by the Court without notice. 3. If the property to be sold was the homestead, verify that the property will not be set off as the homestead and that the spouse will not elect to occupy the homestead. §633.236 et seq. 4. This petition can be modified for mortgaging, pledging or leasing real estate. 5. §633.40(1) requires that interested parties receive notice at least 20 days before the hearing date unless the court finds good cause for shortening the period. 6. If the personal representative is also a creditor or beneficiary of the estate, consider adding language under the signature line to clarify that the signature represents someone who is both the personal representative and an interested party.