What Happens When a House Goes into Probate?

If you are selling a house in Charlotte, NC and it is in probate, a specific legal process must be followed. If you are interested in buying land in Charlotte, NC, that is in probate, get professional help.

Are You Selling a Probate House?

There is a specific process for selling a probate house. These processes require legal maneuvering that the executor, the estate attorney, and the court complete. Several steps must be completed and in the proper order.

To assist with the process, be sure you engage both an estate attorney and real estate agency who has experience with this situation. This option will help the process move as smoothly as possible. Be very aware that the court takes each step and each deadline in this process quite seriously.

Steps Involved in Selling a Probate House:

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The validity of the will is established. If there is no will, the court will appoint an executor, and the estate will be distributed according to North Carolina’s Succession Laws.

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An administrator or executor is appointed to handle the estate. If someone were not specified in the will, the court would likely appoint a trusted family friend.

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The executor petitions the court for authority to put the house on the market.

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The executor gets the property appraised. This action is needed for the estate evaluation as well as the list price.

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The real estate agent lists the property and markets it the same way as a regular house sale.

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If an acceptable offer is received, the court must approve the sale. If a bidding war is expected, offers must be increased by predetermined amounts.

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If there are multiple inheritors, they are informed of the offer via a notice of sale and are given time to make comments.

Are You Inheriting Real Property in North Carolina?

If you are inheriting property in North Carolina, be prepared for the process to take weeks or months to be completed. If it is a complicated estate, no will, or it involves disputing relatives, the process can take years.

What Is Heir Property?

Heir property is a property that was inherited by multiple owners. Typically, this does not refer to man and wife since it usually refers to siblings. In this situation, each co-owner has equal rights and responsibilities regarding the property. This situation can make it difficult to purchase if you have your eyes on it as all owners must agree to the sale. Fortunately, if the house is already listed for sale, all owners have already consented to the sale. Now, they will need to consent to the offer.

Selling the property of a dearly departed family member is a heartbreaking step to take, and the lengthy, complicated process requires you to invest a lot of time and energy. Therefore, it is always wise to seek professional help when selling a probate house.