After an individual passes away, one of the legal proceedings that has to occur is the distribution of their estate among heirs. This process is called probate, and can be a long and complicated process. If you’re dealing with a house in probate, these are the three most likely outcomes.
Direct Transfer to an Heir
The first likely outcome that occurs when a house goes into probate is that it will be directly transferred to an heir. The process of probate is meant to distribute an individual’s assets among their remaining family, and part of this includes their home. If the individual has left a will, this document will be the determining factor in how the decedent’s estate is distributed. Often, the deceased will describe a specific family member to whom the home will be left. In this case, the home will be directly transferred to that individual, and they will then claim ownership of the property.
No Will is Left
While many individuals leave a will to dictate the dispersal of their estate, some people do not have the opportunity to draft a will before passing away. If your loved one didn’t leave behind a will, deciding who gets their home will be slightly more complicated. In this case, the probate court will work closely with the executor of the estate to determine the rightful heir. Working with the executor, they’ll look through legal documents and determine who the home should be left to. Their goal is to come to the same conclusion that the individual would have before they passed, so the outcome will be similar. The surviving spouse, or one of their children, is the usual recipient of the home.
The Home is Sold
In certain scenarios, the executor of the estate may decide to sell the home in order to pay off any remaining debts from the deceased. In this case, selling the home can get complicated, because of the legal process of probate. There are more people involved in the process, and every one of them has to specialize in probate to make sure things go smoothly. However, selling the home to a home buying company can make things much easier for you. These companies will give you an offer on the home regardless of its condition, and help you sell the home in less than 30 days.
The probate process can be difficult for many reasons. With all you’re going through emotionally, taking care of a home can be an added burden. To ease your load, consider selling the home to a home buying company.
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