I have recently inherited a house and land in Virginia. We are planning to sell the house and property as soon as possible. Are the funds fr...

Question

I have recently inherited a house and land in Virginia. We are planning to sell the house and property as soon as possible. Are the funds from the sale required to be placed in escrow for a year from the date of sale?

Answer

It is possible to purchase a bond to permit the proceeds to be disbursed rather than held in escrow. Consult with the attorney doing the closing when it is sold.