After a death in the family, thinking about selling the family home can be difficult. Family members often find it challenging to grieve when they know that they will need to go through the probate process. If you inherit property and aren’t going to live in it yourself or rent it out, your other option may be to sell it. Dealing with inherited real estate properties can often be one of the most complex aspects of the probate and estate administration process. Children who inherit such property frequently sell it and divide the profits equally, as that is usually the most straightforward way to handle it.
In the first step of the probate process, the probate court will appoint an administrator or Personal Representative of the estate. If there was a Will, the deceased individual will have named a Personal Representative in their will. After the Personal Representative’s appointment, the Personal Representative will begin assessing all of the estate’s assets, including homes and other property. They will need to get accurate valuations of all of the real estate and other assets owned by the estate. A Personal Representative must take specific steps before they list the property for sale. If the Will of the deceased specially asked the court for nonintervention powers, then the Personal Representative will be able to sell the home without probate court intervention.
If you are an estate executor or a beneficiary, you may feel overwhelmed by the probate process. One of the most important things you can do as the estate executor, or someone else who needs assistance with the probate sale of real estate is to contact an experienced probate lawyer. While it is technically possible for you to manage the estate sale yourself, you will save yourself significant time, money, and potential liability by working with a lawyer who understands all of the relevant legal requirements involved.
Please contact our office today at CALL or dallawfirm.com if you or someone you know may be in need to assistance with a probate.