The trustee of the estate in abeyance can adopt all measures considered useful to preserve and better administer the estate, such as entering into a loan agreement in order to pay debts under the succession or to meet the estate maintenance costs, concluding lease agreements involving estate assets, investing capital, purchasing assets, undertaking obligations, establishing or disposing of rights in rem, collecting rents, paying utility bills and loan instalments, selling company shares or proposing company liquidation, etc.
The following operations are included among the measures the trustee can adopt for the liquidation of estate assets: the sale of movable property, which must be promoted by the trustee himself within thirty days of the drawing up of the inventory (under art. 783, paragraph 1 of the Code of Civil Procedure), unless the Court provides otherwise by means of motivated decree; the sale of real estate assets, which has to be authorised by the court sitting en banc with a decree delivered in chambers only in cases of necessity or evident usefulness (by way of example, the necessity to sell real estate occurs when the inherited funds are insufficient to settle the inherited debts, even after the sale of movable property; cases of evident usefulness include those in which heirs aim at investing in assets in order to maximize profits or want to remove particularly expensive assets from their estate). If the estate has adverse records or is subject to mortgage, administrative constraints or other encumbrances, the measures of the Court authorising the sale of the estate will also include the authorisation to remove these prejudicial entries, so as to allow the buyer to purchase the estate free from these impediments.
The property is sold in the conditions and legal status in which it is at the time of the sale, as the sale is not subject to rules concerning guarantees for hidden defects or poor quality and will not be annulled under any circumstances. In case of possible hidden defects, poor quality or non-conformity flaws in the sold assets, there would be no grounds for compensation, indemnity or refund, as acknowledged by the bidder during the evaluation of the assets under consideration. The right of withdrawal is not provided after the Court has authorised the sale.
After accepting promptly and effectively the succession with benefit of inventory, if the heir wants to be relieved of the responsibility for inherited debts and of the tasks necessary for the liquidation of the succession avoiding the loss of the benefit of inventory, and if their succession is being administered, they can ask the Court to allocate assets among creditors and legatee of the deceased, as provided for in art. 507 of the Civil Code, and to appoint a trustee for the liquidation of the succession as provided for in art. 498 et seq. of the Civil Code.
It is important to note that the heirs who accepted with benefit of inventory and did not allocate assets as provided for in art. 507 of the Civil Code have also an obligation to ask the authorisation of the Court that dealt with the succession before selling the assets or activating any extraordinary administration proceedings. This rule concerns both real estate assets and movable property (within 5 years of the acceptance) and is intended to prevent the interests of creditors and legatees from being affected.
A violation of this obligation would entail the loss of the benefit of inventory for the heir and, consequently, the heir will have to settle the inherited debts out of their personal assets.
Selling 50% of the srl shares of the Dental Health Center of Arcade (TV) at the base price of 7,500.00