What is Probate Real Estate
Probate is the legal process in which beneficiaries legally obtain property willed to them, and pay off debts of the estate, if applicable. If someone dies without a will, but owns property, the probate process assigns legal ownership to someone, usually a close relative of the deceased.
Owning a home that’s willed to you
In many states, going through the process to probate a will is the only option to legally own a home of the decedent. Often, the new legal home owner wants to sell the home or rent it out, as opposed to occupying the property himself. The process can be confusing, but is easier to navigate this situation with a Certified Probate Real Estate Professional.
Know the applicable state’s laws
Keep in mind that every state has specific probate laws, even though many have adopted the “Uniform Probate Code.” You can find your state’s probate policies by looking at this list of probate laws by state.
Get help from a Certified Probate Real Estate Professional
If you find yourself with questions about the probate real estate process, reach out to me at (408) 472-0817 or stephen.theard@cbnorcal.com, and let’s discuss your options.
*This post is not intended to provide legal advice. Before making legal decisions, consult an attorney.