Securing the property is essential to protect the estate’s value, ensure compliance with legal requirements, and provide peace of mind to all parties involved. The following are a few of the reasons.
Prevent Theft and Vandalism: Vacant properties are often targets for trespassers, squatters, theft, or vandalism. Proper security measures deter unauthorized access and protect the home’s contents and structure.
Maintain Property Value: Damage caused by neglect, vandalism, or weather can decrease the property’s market value. Securing the property helps preserve its condition, ensuring it can be sold at fair market value.
Comply with Legal Responsibilities: Executors and administrators, Trustees are responsible for safeguarding estate assets. Failing to secure the property could result in legal liability for any losses incurred.