29/10/2024
What happens to a house during probate?
When a house is in probate its ownership and sale can become a complex process. Understanding what happens to a house during probate is crucial for beneficiaries, buyers, and executors alike. Read on to explore some of the key considerations and steps involved in navigating the probate process effectively.
What does it mean when a house is in probate?
Probate is the legal process during which a deceased person’s estate is managed. When a house is in probate, it is one of the assets that is being managed as a part of their estate. A “probate property” is sold by the executor or administrator of the estate after they have been granted probate by the court. The process of selling a house is often complicated, and selling a house in probate adds another dimension to the sale of the property.
What to consider when a house is in probate
When a house is in probate, there are several important factors that you’ll want to be aware of. Understanding these elements ensures a smoother, more informed process for all involved. Some key questions you’ll want answers to include:
How long can you live in a house during probate?
Living in a house during probate largely depends on the individual circumstances of the property and its beneficiaries. For example, executors are not normally allowed to live in the property unless they were occupying it before the death, but they can stay if agreed by the beneficiaries. As the executor of the property has the ultimate say on how assets are managed, it’s advisable that beneficiaries, surviving joint owners, or anyone else who may have been staying at the property, must seek legal advice to ensure they are all aware of the choices set out.
How long does probate last?
The probate process can be slow, with many processes taking anywhere from several months to a year to complete. This can be frustrating for those looking to purchase the property, as you cannot complete the buying process whilst a property is in probate. This can cause frustration and anxiety, which may lead to prospective buyers pulling out of the process if they don’t have the right support.
What are the challenges during the probate process?
Probate can be a challenging and lengthy process without the right support. As it encompasses the handover of assets, the process is susceptible to multiple delays whilst the necessary legal steps take place. For example, in order for probate to begin court approval must be given to the executor of the estate. This approval will give them the authority to manage and administer the estate. If there are disputes over the distribution of assets (including the property) this can cause more delays to the process. The transfer of ownership deeds, first from the deceased to the executor and then onto the buyer, can take several weeks or months to complete.
Navigating probate with Michael Anthony
Want to make a complex process simple? Michael Anthony can help you to navigate the different stages of probate in a smooth and efficient process. We help identify and address potential issues before they arise, avoiding unnecessary delays. Our team provides dedicated support throughout the buying process, liaising directly with the executor on your behalf and keeping you informed at every stage of the probate proceedings. As specialists in handling probate property sales, we bring expertise to ensure a straightforward, hassle-free experience, guiding you through each step with confidence and clarity.
Keen to work with an experienced estate agent who can make buying a probate property as quick and seamless as possible? Get in touch today to chat with one of our experts about what you’re looking for.