Letter Of Administration

1) That my father had executed a will in favour of me and my mother excluding 3 sisters. That, me and my mother applied for probate but the court was pleased to grant a letter of administration as there was no executor in the will. Can we now transfer the property or alienate it by means of sale deed, gift deed, etc. 2) That, it is mentioned in the letter of administration that within 6 months we have to provide the details of inventory and within 1 year account of the estate. What does it actually mean? What should I actually provide to court within 6 months or 1year? What is the procedure for it? 3) As a beneficiary me and my mother applied for the probate. Now the court has given a letter of administration to us. Will this convey the title of the property to us. Can we dispose of or gift our property to anyone or sell it. Please clarify. Thanks in advance.