Inherited A Home? Learn About Probate

Let’s say you’ve just inherited a home from a deceased parent. The idea of selling it can be daunting, especially if you’ve never dealt with probate before. So, what exactly is probate, and how does it affect the sale of a property?

Understanding Probate

Probate is a legal process that takes place after someone passes away. It involves proving the will, identifying and inventorying the deceased's property, paying debts and taxes, and distributing the remaining property as the will directs. If there’s no will, the state laws will determine how the property is distributed.

There are Five key points that will get the process started.

Let's dive into these steps so you feel confident in the process ahead.

Step 1: Identify if Probate is Necessary

First, check the title of the property. If it’s in a living trust, joint tenancy, or community property with right of survivorship, probate might not be necessary. We’ll pull the most recent grant deed to determine how the title is vested.

Step 2: Determine the Personal Representative

This could be the executor named in the will or an administrator appointed by the court. This person has the legal authority to manage and sell the property.

Step 3: Understand Your Authority

There’s a difference between full authority and limited authority. Full authority allows the representative to sell the property without court confirmation; limited authority requires court supervision for the sale and can take a bit longer.

Step 4: Gather Required Documents

You’ll need the death certificate, the will, letters of administration, and any probate court orders. These documents are crucial for the sale process.

Step 5: Market the Property

When listing a probate property, it’s important that we highlight its probate status and be transparent with potential buyers about the process. A probate sale can take up to a year to complete.

Here are some additional tips to help you through the process:

• Work with a Probate Attorney: While your real estate agent can guide you through the real estate aspects, a probate attorney can help navigate the legal nuances and ensure everything is done correctly. I’d be happy to refer you to a trusted attorney I frequently work with so please reach out.
• Stay Informed: Understanding the probate process and the specific requirements in your state is crucial.

Conclusion

I understand this can be a confusing and overwhelming time. By hiring a real estate agent who is familiar with the probate process, you’re already taking a big step in the right direction. We can guide you through every step, ensuring that all legal requirements are met and that you get the best possible outcome for your inherited property.

Working together with an experienced probate attorney, we can handle the complexities of the probate process efficiently. My goal is to make this as seamless as possible for you, so you can focus on what truly matters during this difficult time.

Please feel free to reach out to me with any questions or if you’re ready to start the process. I’m here to help you navigate this journey with confidence and care.