Did your loved one pass away, and inherited his/her home, and now the family wants to sell the home after probate? And now you’re being bombarded with paperwork, legal speak and overwhelm? First of all, I’m very sorry for your loss. This can be a very difficult and emotional time for you, and on top of that, now you have to sort everything out. This type of home sale can be one of the most emotional to navigate, and I feel for you.
Here are some probate terms that you need to know to make your time a little less confusing.
Probate: Probate is the process of deciding where, how and to whom to distribute the decedent’s property.
Another one is, Personal Representative: this also known as Executor, Executrix or Administrator. This means you are the person designated to administer the estate and ensure that the deceased person’s wishes are performed.
There’s also, Intestate vs Testate: Testate means someone passed away and left a will. Intestate means they died without a will.
And what does Estate mean? Estate is the total possessions or assets including money, jewelry, stocks and land. The Inventory is a list of all assets in the estate. The term Appraisal means, valued at fair market value by the probate referee. These are just a few of the many terms you are going to see regularly. For more information, or if you have any questions please contact me, but also, make sure you talk to lawyer or an attorney since I’m a realtor with helpful information, and not a lawyer by any means! If you want to talk to me about selling your home in probate, give me a call.
You may also want to check this blog post on Probate. Click here—> PROBATE VIDEOS
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
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