Tuesday, February 13, 2024 / by Robert Ortega
What is Probate?
Hello everyone! Today, I want to demystify a topic that often comes up in real estate: probate. Probate is a legal process that takes place after someone dies. It involves proving in court that a deceased person's will is valid, and then administering their estate according to that will.
Now, why does probate matter in real estate? Well, when a property owner passes away, their property often becomes part of their estate. If they had a will, the property is transferred to the beneficiaries named in that will. If there's no will, state laws determine who inherits the property.
During probate, the court oversees the process to ensure debts are paid and assets, including real estate, are distributed properly. This can be a complex process, especially if the property has a mortgage or there are disputes among heirs.
As a real estate probate expert, I help guide executors and beneficiaries through this process. This can involve everything from determining the property's val ...
Now, why does probate matter in real estate? Well, when a property owner passes away, their property often becomes part of their estate. If they had a will, the property is transferred to the beneficiaries named in that will. If there's no will, state laws determine who inherits the property.
During probate, the court oversees the process to ensure debts are paid and assets, including real estate, are distributed properly. This can be a complex process, especially if the property has a mortgage or there are disputes among heirs.
As a real estate probate expert, I help guide executors and beneficiaries through this process. This can involve everything from determining the property's val ...
