Can You Sell A Deceased Persons House Without Probate With Ease?
What will happen to your house after you have died? Who can sell the home? Do you need to go through probate? If you have made your will, then it will have the name of an executor in it. This person is entrusted to distribute your assets according to your wishes expressed in the will. If you are the executor for a friend or family member who just died, what do you do? Can you sell a deceased persons house without probate, or you need to go through the whole process? Will you get the right sale price?
What Is Probate?
For financial institutions and banks to testify individual wills are impossible, they cannot risk passing the contents to the wrong person. Probate is the process through which a will is validated and becomes legally enforceable. The executor takes the will to a probate court and submits it. This is where any confusion regarding multiple wills, estate plan, or improper documentation can be sorted. The choice can be challenged and only one recognized as the final will. Almost all the wills in Canada are probated except the ones which are for assets held jointly.
Why Without Probate?
An executor may have several reasons why he wants to sell a home promptly.
- There could be a lucrative offer waiting
- To reduce carrying costs such as utilities, property tax, etc.
- Take advantage of the right time in the market
The house title has to be transferred to the executor before he can carry out the sale. Probate takes time, and it can take between three to six months. Until then the property remains in a living trust. If both the executor and the buyer are ready to wait for the probate grant to come through, the sale can wait. Otherwise, they can go through one of these processes for selling a house while waiting for probate
- Tenancy-at-will
This is an agreement where the buyer takes possession without paying the money to the seller. The money is with the buyer’s lawyer and is not released until the transfer of the property. The buyer pays for the utilities and property tax and may pay rent to the seller. There are risks to the executor if the deal falls through or damage to the property.
- Fasten The Probate Process
By putting a request for rushing the probate process may reduce the time taken. The reasons for the rush have to be good for the court to say yes.
- Limited Grant Of Probate
A limited grant request to the court is for a specific purpose, and it could be for the sale of the house. Completing the full probate application is still required even after the limited grant request is accepted. You end up adding more complexity to the process as well as add extra costs.
Legality Of Selling Without Probate
Executors are in a hurry to sell the estate assets because
- It can take weeks to receive a probate grant from the courts
- They are under pressure from the parties involved
- The market conditions are favorable
But can the executor sell a house that is in probate? No, he can’t take such a step without a proper court order. This order is an essential piece of paper and allows an executor to sell a house. Without a probate order, there is nothing much to stop a person from selling a house and keeping the money.
An executor who tries to sell estate homes without proper probate will find that it will, first of all, not happen, and secondly, if it happens, it would not be legal. A court-certified copy of the probate is necessary before a new owner can be registered.
Probate is necessary, but it does not mean that you cannot list the house for sale while the probate documents are under process. The prospective buyer has to be kept in the loop, and there should be clarity on the sales agreement conditions. He should be aware that the sale is subject to probate. The beneficiaries of the will who are putting pressure on the executor for a quick sale need to realize that there is a waiting period after filing the documents. The estate lawyers cannot do much to fasten the process.
Can The Estate Sell The House After Probate?
Suppose there is no heir appointed for a property then handed over to the courts, and a person close to the family is appointed as the executor. Can you sell a house that’s in probate? To sell while the probate is under process, it is essential to hire a top-notch real estate lawyer. You may get Certified Probate real estate agents or even a probate attorney who can help with the probate sales. The process will be smoother and much easier to handle.
Summary
Any inherited property will take some time to sell.
- Get an appraiser to appraise the property
- Search for a professional on your own or take the help of your lawyer
- List the property for sale and market it for attracting buyers
- Listing on the multiple listing services and sites is ideal
- Once an offer is made, the executor can submit it to the court on behalf of the estate
- If all parties agree, then a closing date for sale is finalized
- Once the offer is accepted, all the heirs are notified by a Notice of Proposed Action
- The heirs have some time to review and voice any objections they may have
- With no objections, the sale may proceed without the court involvement
Dealing with a loved family member can be emotionally distressing but selling their house is an even bigger challenge if they die without a will. At such times making the right decision may seem difficult. Other factors, like unreasonable siblings and unrealistic expectations, can cause further problems. Filing for probate and trying to sell while the process is underway can be taxing. Contact us for the best advice regarding selling a property under probate. Our personal representative will help you find the best price for the house.