How Probate Affects a House

If you’ve ever lost a loved one, you may have heard a lawyer or someone else use the word “probate.” This is a legal term used to describe what happens to a person’s belongings and how they get passed on to the heirs. When a house in probate must be sold, you’ll want to get the matter settled quickly.

When Does Probate Begin?

Probate begins when a lawyer, on behalf of the heirs, files a petition in court. This gives the court supervision over the inheritance process so it is conducted fairly. If the deceased person has a will, the executor will be named. If there is no will, probate still applies, but the court will appoint a representative.

The specific details of probate will differ from state to state, but in most places there is a waiting period to make sure all heirs have been notified and there are no legal challenges against the will or the estate.

Meanwhile, Who Owns or Possesses the House?

During the probate period, all property and assets, including the house, are held by the estate. Once all matters have been settled, such as debts or insurance claims, the house will become the property of the heir or heirs named in the will. 

If there is no will, the house is usually sold and the proceeds divided equitably. In this case, the heirs will often sell the house “as is,” meaning they don’t intend to make any needed repairs. This can slow down the sales process.

What Happens to the House After Probate Ends?

The executor or heirs will want to sell the house quickly because probate cannot legally end until the house is sold. Meanwhile, they must continue to pay any expenses associated with the house out of the estate account, including mortgage, insurance, and utilities.

Even if a person inherits a house outright, they might want to sell it for cash. In these cases, selling the house for cash is often the best choice. You can sell the house and settle the estate within 30 days.

A cash buy is a viable option for anyone who must deal with a house in probate. You can receive an offer within 24 hours, and no inspections or repairs are required. You’ll have cash in hand within weeks.

Do you have an inherited house in the Hilton Head or Savannah area? Learn how to sell it quickly at this link. 

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