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What happens if you’re in probate but need to sell as soon as possible? There’s an important timeline you need to know, so today I’ll break it down step by step.
First, try to have an attorney help you run through all of the important documents. Time is of the essence, so having a professional with you to check that everything is in order is crucial. Then, you should file a petition for probate. That’s usually going to be filed by the executor, which is someone stepping forward to be the administrator of the estate.
If there’s a property that needs to be sold, the next thing you’ll look for is letters of administration or letters of testimonial. These give the administrator permission to sell the property. After you file your petition, receiving these letters can take several months, so keep an eye out for them.
“You need to act quickly to meet the deadlines.”
The letter site is going to permit you to sell that property, and hopefully there are no restrictions, but it’s possible. For example, sometimes the probate judge could require court approval before the sale. Once you get the letters, you’ll know if court approval is required.
Next, you’re going to have to file a notice of proposed action 15 days before closing escrow. It’s time to speak now or forever hold your peace. This needs to be filed, or it will cause major delays.
Remember, I sincerely recommend hiring an attorney when going through probate. As always, feel free to ask me questions about anything real estate related; I am always here to help! Call or email me anytime.
