So what exactly is a probate sale? Let’s say you find yourself in a situation where somebody has passed away, and their real estate property must be transferred. This is where you are going to have what is called a probate sale.
By simple definition, probate is just the proving of a will. A probate sale can occur with or without a will, but that’s what probate means. A probate sale is a court-supervised legal process where someone’s property is transferred according to their final wishes. In the situation where, rather than being transferred directly to that person’s decedents, the property will be sold, that would also be part of that probate process.
“A probate sale can occur with or without a will”
There are situations where the real property in question would not have to be transferred via the probate process. These are situations where the property was part of a trust or had been deeded with a right of survivorship. That means that, with a little prior planning, you can avoid the probate process altogether.
Now I’m not a lawyer, and anyone who is going through this process should certainly be talking to a probate attorney. Likewise, anyone looking to work out a trust or a deed will also need to speak to a specialized attorney. That, however, is the basics of what a probate sale is.
If you have any questions about this topic or real estate in general, please don’t hesitate to reach out. I am available by phone, text, or email, and I would be happy to help you.
