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Find Out How Long Does Probate Take after House Sale

How Long Does Probate Take After House Sale? Here Are The Details

For most straightforward inheritances where estates have no properties, within 3 to 4 months, the beneficiaries can start receiving their inheritance in their bank account. However, most estates are much more complex and take much more time for the probate process to finish. Estates are always more complicated because they vary widely. Some people only have money, art collection, or jewelry, while some have houses and businesses to hand down. There is no deadline, and it is not possible to give an exact time frame for a probate process.

 How Much Time Can It Take? 

Generally, within one year of a person’s death and after you receive a grant of probate, an estate should be wound up. Any probate where there are no legal hassles and disputes and no out of the ordinary assets to be dealt with can be finished within a year after applying for probate. The beneficiaries will receive the share of their benefits by then. However, this will depend on many factors

  • How efficient the executor is 
  • Real estate market condition
  • How many parties are involved
  • Provisions in the will specify when an inheritance is paid

 Cause For Delay

Even after the sale of a house, the time required for probate process may continue and take some time to finish. There could be many reasons for this.

  • Collecting all assets

The personal representative who has the powers of attorney should collect all assets, including bank accounts, shares, and the house. This might take time if the deceased had a variety of financial instruments and investments. The tax return and outstanding debts are tallied.

  • Sell A House Under Probate.

Finding a buyer and the right price for the probate property can be easy or difficult depending on many factors. Even after finalizing the deal, it may take time, and the probate process may continue.

  • Selling Foreign Asset

To sell the property in a foreign land is more time-consuming. The probate may continue for a long time even after the sale of the house. 

  • Missing Beneficiaries

The probate process can often go on for months or even years if the beneficiaries are not found. Any estranged relative or family member will have to be traced and handed the proceeds after selling a house. 

  • Statutory Advertisement

If someone dies without repaying all the debts, the creditors may claim the proceeds from any assets’ sale. The personal representative will have to notify the creditors and notify the death. The inheritance tax will have to be paid.

  • Life Insurance Policy Claim

Depending on the circumstances of death, the policy’s amount, and the number of beneficiaries, and many other questions can be asked. Letters of administration may be required.

  • State Probate Laws

There is no clear answer to the question of how long the probate lasts after a house sale because different states have their probate laws. It can be over within months in some places, and in some areas, it can take years. Mostly the Canada Revenue Agency will lay down the rules. 

  • Disagreement Between Heirs

If there are several beneficiaries, then the chances of a conflict are more. Sometimes even after the house is sold, some beneficiaries may fight for a bigger share and keep the probate going. A clearance certificate from all parties can help.

  • Will or No Will

When there is a will with sound estate planning, things can be smooth and streamlined. However, if the will is not correctly signed or notarized, it may lead to delays. Even worse is when there is no will. In some rare cases, the house may fall into the state’s hands, but mostly the beneficiaries or heirs will have to fight it out and prove their genuineness to the court. 

Probate has the dubious reputation of lasting forever! After the sale of a house, the money is not given to the inheritors immediately if there are even slight complications. Any outstanding debts or expenses will be settled first, and this may take time. You may need the help of good estates lawyers. We can help you. Please fill the form given below right now and leave the rest to us. We help you not only with buying the house but with the complete process. Our highly trained team of experts will be happy to answer all your questions about the probate process. 

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