Have you inherited a home that’s in probate and not sure what to expect? Let me give you some insight on what probate is, what you can expect, and why your home is in probate. These kind of thing during probation can add some stress if you plan to live in the home or sell it, so let’s alleviate that by talking about it.
Probate is a legal process that is required to sell a property or a home that’s in the deceased person’s name. When in probate, the court gets involved at various levels depending on the situation. A person is assigned to administer the estate, which may very well be you if you are watching this video, and that person is called the Personal Representative or PR for short. You can also expect there to be an Estate attorney to help with this legal process, and know that there are some substantial fees associated with completing a probate procedure.
One of the biggest reasons an estate goes into probate, as far as real property goes, is the way the title was held. The best thing to do to avoid going into probate occurs BEFORE the owner passes. By working with an Estate attorney, you can avoid probate by putting your assets, including real property, such as a home, into a Trust.
A common misconception about probate is that people think that a WILL keeps property out of probate. That is not true! The “WILL” does allow the deceased to determine such things as who receives what, as well as who will be the executor of the will. This is much better than trying to sell the property intestate, or without a will. If there is NO WILL, the state determines the intestate succession. In other words, who receives the property that is left behind. If you find yourself involved with a probate, there are many resources available to help direct and smooth the way. I’m equipped to help answer many of your questions as well as become your resource to connect you with other vendors and services you may need along the way.
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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