How To Sell A House That Is Part Of A Probate Process
A probate sale is a process where the executor of an estate must sell the house due to a lack of funds in order for the estate costs to be covered. This can happen if there are no relatives left or if the deceased has not left money or property to take care of such things. You can click here https://www.sandiahomebuyers.com/sell-your-house-fast-in-tijeras-nm/ to know more.
Here are tips to help you sell the house with a proper probate sale.
Sell the house by yourself
The house will be sold at a probate hearing. However, you can sell it in other ways too. Sometimes the executor of the estate will not want the house to be sold by an agent or auctioneer and gives you authority to sell it yourself. In this case, you must make sure that you have a real estate license and are following all of the state requirements; otherwise, you could go to jail.
Ask for a court appointed receiver
In many states, the law requires that if you are selling a house under a probate sale, the house sales agent must be appointed as a court receiver. However, this is not required in all states.
Do not buy any other property
You cannot sell your car or any other property that was a part of your deceased husband’s company or estate. You can sell only the house due to probate.
Do not move in or rent out
You cannot live in or rent out the house when you are selling it. The property will not be eligible for any state taxes, insurance, or other benefits if you live there during the probate period. It will also stop any inheritance that comes from your husband’s estate if you live there during that time.
Do not change locks
You cannot change any of the locks on the house while selling it. This will give the court receiver an opportunity to investigate whether you are stealing any of the property within the house or if you are trying to lock anyone out.
Do not rekey locks
Rekeying is another way in which you can prevent anyone from entering a house during probate. The locking system can be changed from the first key, to the second key, to a third key. This should not be done without the court judge’s order.
Do not sell anything in the house
You cannot sell furniture or other items that are in the house during probate. However, you can sell clothes and other personal items that were your late husband’s belongings.