The American Bar Association describes probate as “the formal legal process that gives recognition to a will and appoints the executor or personal representative who will administer the estate and distribute assets to the intended beneficiaries.” In other words, probate is the court-supervised process by which the estate of a deceased loved one is legally settled. If you’ve inherited property through probate, you may not know how to best move forward, and this is totally normal. While probate is typically handled differently from state to state, here is a general idea of what steps you can follow to prepare for and work through the probate process.
Prepare Your Team:
As previously stated, the probate process is usually court-supervised. In this case, the first person you’ll want to reach out to will be a probate attorney to help guide you through the court and filing processes. You’ll also want to find a real estate agent with knowledge of or a background in probate estate. Not only will this person be able to help you navigate the specific nuances of probate estate sales, but if you don’t live near the property you have inherited, they’ll also be knowledgeable in the local housing market. Lastly, you’ll need a personal representative. Usually, if you inherited the property yourself or filed the Petition for Probate, this person will actually be you. Otherwise, you can always find a third-party person to act as a fiduciary or paid executor of the estate, or the court may appoint an administrator.
Prepare For the Paperwork:
Prior to your first probate hearing in court, you will not have any legal authority over the property. That being said, the first step to take is to meet with your probate attorney and file for the Petition to Probate. Once this takes place, you’ll want to keep up with the paperwork that follows, such as debt settlements, estate inventory, tax returns, and estate accounts that need either monitoring or opening. In preparing to sell the house, also make sure you’re aware of any potential property inspections or court confirmations you need prior to closing. Finally, throughout any and all paperwork, be sure to consult your attorney to ensure correct filing.
Prepare For and Close the Sale:
In preparing your inherited property for the market, you’ll want to comb over the property to make sure damage is repaired and any personal belongings are cleaned out. Hold a yard or estate sale, distribute assets to the correct inheritors, and move forward step-by-step with a trusted real estate agent. Once the property goes through probate, you’ll need to close through a process of final accounting. In all, this is simply a document that reports the legal and financial transactions that have transpired during the probate process. Then, your attorney will need to file a closing affidavit with the court system.
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Why is Freedom Home Buyers the right choice for you?
Losing a loved one is hard, and having to go through their belongings and prep their property for the market can prolong the grieving process. Here at Freedom Home Buyers, we understand the stress and heartbreak associated with the probate process and we’re here to make it as easy as possible on you without any hassle. If you’re preparing to sell a house you’ve inherited, call us today to make the process fast and efficient, all while working with someone you know you can trust.
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1605 King Street
Jacksonville, Fl 32204
Who is FREEDOM HOME BUYERS?
Freedom Home Buyers is a local Jacksonville company with the experience in purchasing real estate. We have over 400 successful deals under our belts in the past 4 years. Unlike some "Cash For Houses" businesses, we are an established member of the Jacksonville community. Our office is located in the historic Riverside district @ 1605 King Street. We have a full staff of trained professionals to help you with your real estate needs. We are BBB ACCREDITED. You can rest assured that Freedom Home Buyers can help solve your real estate problems.
* We are not lawyers, nor are we attempting to provide legal advice in any way. Please always seek the advice of qualified legal council if you have questions about real estate or any other legal matter.