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Selling estate property may take some time

On Behalf of | May 7, 2020 | Blog, Estate Planning

Family members in California likely want to take advantage of the high value of real estate when they sell the deceased’s home. However, this cannot happen automatically after someone passes away. Instead, they have to work within the court process and the executor of the estate before they are able to sell any of the deceased’s property.

The first thing that must happen when an estate is settled is that creditor must be paid. If the deceased owes any money, it is the creditors who have the right to be paid back first before any of the loved ones are able to get their money. Debts are settled against the assets of the estate. It is only after this occurs that any property may be sold.

Once the court gives the Grant of Probate, assets may be sold. If there is an executor of the will, they must be in the loop when the house is sold. The process must factor in their wishes, including any contract with the agent and even the listing price of the house. If there is no executor, asset sales require the court’s involvement. In some cases, family members will need to make some tough choices when it comes to the price that they receive. Even a house can be difficult to move for a high price if it requires work.

When dealing with an estate and the probate process, people may benefit from the help of a probate attorney. This is a technical process, and courts have strict rules that must be followed. Any failure to follow the process can result in delays. If there are any disputes among family members, an attorney may be valuable when it comes to estate litigation. The hope is that legal counsel may actually head off disputes.

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