When a property goes through probate, it goes through the process of being transferred to an heir of the deceased. However, before this happens, an executor has to file a petition in court to be granted access to the estate. This can take a while to go through, so it’s important to do it quickly. These are a few of the common conclusions to the probate process.
Directly Transferred to an Heir
The first common thing that happens to a house in probate is that it is directly transferred to an heir. Sometimes, individuals will discuss the matter of their property in their will. In this case, the lawyers in charge of making sure that the will comes to pass will distribute the property to that individual. For example, many individuals choose their spouse or a child to be their sole beneficiary. Others may divide up the estate between their children. In any case, if it is specifically stipulated in the will, the house can be directly transferred to an heir of the deceased.
This next option occurs when the decedent did not leave a will. In this case, there is no legally official heir to inherit the property. Houses that go through this type of probate then have to be conveyed through the probate courts to determine who can rightfully inherit the home. It is ultimately the judge’s decision who inherits the home. Normally, through this process, the home can be transferred to the decedent’s spouse, children, or next of kin.
Executor Sells the Home
In many other scenarios, the executor may choose to sell the home in probate. Normally, this is an incredibly intensive process. Usually, homes that are sold through probate require a lot of repair to be ready to put on the market. You need to find individuals and companies who can help you fix up the home. You also need to find a real estate agent who is familiar with the probate process. This can all be incredibly taxing both financially and emotionally. Instead of putting yourself through this, consider selling the home for cash. Companies that purchase homes for cash make you a fair and generous offer in just a few days, and will purchase the home in any condition. This helps you get through the probate process more quickly, and saves you from investing all of your time and money on the property.
The probate process is a necessary one, but it can be incredibly draining. For one, the process can take months from start to finish, and can be very intensive. Additionally, if you’re the executor, this probably means that you’re still mourning the loss of someone close to you. To help you get through the process quickly and efficiently, consider using We Buy Houses Richmond to sell the property.
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