Selling a House in a Probate Estate
Probate property is real estate, and everything within said real estate, that’s in the name of a deceased individual. These properties are reviewed by a probate court to determine what happens. Profits from the sale of probate property are commonly put toward the deceased person’s debt that they left behind. Sometimes these sales also happen when someone dies without a will in place, or less commonly, in a case of eminent domain. The seller is one of these three: the court, the estate’s executor, or the estate’s administrator. Alternatively, the estate can be inherited. The inheritor can then sell it if they wish, although it should be noted that once an inheritance happens, the estate stops being probate property. The process can be complicated, confusing, and overwhelming, which is why hiring a Las Vegas probate attorney is smart.
It’s important to know when it’s appropriate to sell a deceased person’s house, as in some cases doing so too early on without legal permission can land you with civil or even criminal legal repercussions. Whether or not you need probate court is determined by the value of the assets, location, and if there’s a living trust or transfer-on-death deed in place. A will alone doesn’t mean you don’t have to go to probate court, nor does it mean you do. There are so many factors to consider.
Your best bet is beginning the process as early as possible, and having a lawyer by your side to navigate and advocate for you. Albright Stoddard Warnick & Albright is an award winning firm whose Las Vegas probate litigation attorney will have your mind at ease. Featuring some of the best real estate law attorneys Las Vegas, they have built trust with many over decades. Let this firm take some of the weight off the process of selling probate property.