How Executors In Iowa Probate Cases Should Handle Real Estate

Article written by Illinois & Iowa Attorney Kevin O’Flaherty

In this article, we discuss how an executor, the individual or entity responsible for managing the assets of a decedent’s probate estate, should handle the real estate assets of the deceased individual. We will discuss inventory of assets, when real estate goes through probate in Iowa, and the process the executor should follow when distributing real estate in Iowa. We will also explain how to find what real estate the deceased person owned, what to do with the real estate during the administration of the assets, and the notice of probate for real estate in Iowa.

Inventory of Assets

With help from the attorney, it is the executor’s responsibility to inventory all the assets of the decedent, including all property. In Iowa, the personal representative or executor must file a report and inventory of all the property of the decedent within 90 days of being qualified. An extension can be granted by the court as needed. The executor should not take this responsibility lightly as the inventory will be verified by an attorney under penalty of perjury. Once the property is properly inventoried it will be appraised, sometimes by a certified appraiser depending on the category of property. Also of this information will be…