Inheriting a house in probate can be a complicated matter. Houses in probate can’t be easily inherited because the beneficiary hasn’t been legally documented by the former owner. Unless you have a legal form such as joint ownership, a transfer-on-death deed, community property law, or a living trust, you can’t legally own the house without going through probate processes. Here are a few tips on how to proceed when you inherit a house in probate.
Getting Legal Matters Taken Care of
First of all, you’ll want to get the legal matters taken care of if you’re trying to obtain legal ownership of the property. This will require you to go to probate court and file a petition. This will help you to get started in the legal processes of obtaining ownership of the property. At the probate court, there will be teams of lawyers that will be able to help you through the legal processes. However, you should be aware that the probate process can take months or even years to complete. Keep that in mind when you inherit a probate house.
Caring for the House
While you’re in the process of probate court, make sure that the house is taken care of. Since the probate process can be quite lengthy, it would be easy to allow the probate house to fall into disarray. However, you need to prevent this because if the house isn’t cared for, its value won’t be as easily maintained. It also might get broken into by robbers if the house looks uninhabited and uncared for. Make sure that you or someone nearby can maintain and care for the house throughout these processes.
Choosing to Sell Instead
If you’re starting to feel overwhelmed by the prospect of filing a petition in probate court and caring for the house long-term, don’t worry. There are other options available to you. One of the best options will be to sell your house to a cash buyer. Cash buyers are some of the only people who will purchase a house in probate due to the complicated legal process that it is tangled up in. Cash buyers will give you their highest possible cash offer which is calculated based on the value of the home. Then, you’ll get paid in cash and the responsibility of caring for the home will be off your shoulders.
So, if you ever end up in a situation where you’ve inherited a probate house, remember the tips you read here. Make sure that you maintain the house and get legal matters taken care of at probate court if you want to obtain ownership. If not, you can sell your house easily and quickly to a cash buyer and use the money to help your family.
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