Selling a Home During Probate: A Difficult and Necessary Decision
Following a homeowner’s death, a legal process commences to ensure that any remaining affairs are put in order. This court-supervised process, known as probate, is used to decide how a decedent’s property and debts will be distributed and handled. This can be a trying process for many who would rather take the time to grieve and reflect than to inventory a loved one’s life. During this time, it may also be discovered that a loved one’s debts are outstanding and without clear remedy. For these reasons, many people decide to sell a home that they have authority over. But is it possible to sell a home that is in probate?
It is, in fact, possible to sell a house in probate, and the real estate investors at LEDGE Real Estate Solutions, LLC, are here to advise you on the process. If you’re in a bind and wondering how can I sell my house fast in Winter Garden, FL, contact LEDGE for a cash offer.
Selling a Home in Probate
If you’re reading this then chances are you are an executor or administrator of a relative’s estate, including their property. If the deceased left a will granting you authority to sell real estate, you may sell or lease the property without a court order. If there is no will or the will does not address real estate, you will need the court’s permission. In addition, heirs and unpaid creditors will need to be notified of a potential sale. This is a complicated process that usually takes about six months to fully conduct. It is in your best interest to contact a lawyer if you have not already done so to ensure that any emerging legal issues are handled accordingly.
It is important to note that homestead property is exempt from the probate process in the State of Florida, meaning that the primary residence of the deceased passes directly to the surviving spouse and descendants.
Handling Debt and Claims
As executor of an estate, you have a responsibility to act in the best interest of both beneficiaries and creditors. This can create a difficult situation if real estate is all that remains to pay off a debt. You may have hoped that this property could pass through the probate process unscathed. Alternatively, heirs may have their own ideas of what should be done with the property.
A cohesive family can easily find itself torn apart following the death of a beloved family member that owned a home. While a difficult decision, you know what must be done. In order to clear the debt and ensure that there is something to be passed down to descendants, you may need to sell a home in probate. But the process of selling a home can be just as intimidating as the probate process. At LEDGE Real Estate Solutions, LLC, we pride ourselves on being able to lead homeowners out of difficult situations. We buy houses for cash in Winter Garden, FL. Contact us today to ensure that your loved one’s estate is settled in a timely manner.
Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.