We Buy Houses In Birmingham, Alabama (and surround areas like Pleasant Grove) and we work with people just like you who are going through difficult probate situations. If you have inherited a property and don’t know what to do next it can be frustrating and overwhelming. We know that going through the death of a loved one can be a difficult and trying time, and the added stress of dealing with a property can be exhausting. Sometimes people will sell an inherited property quickly but in many cases they will hold on to property for a long time. There can be strong emotional attachments to inherited family homes and it can be difficult to make the decision to sell it. We are here to provide relevant information to help sellers of inherited properties to understand the process.
What Is A Probate Property in Alabama?
The probate process is a legal process in which a deceased person’s property and debts are resolved (usually under a will). The probate court will determine the validity of the will and then grant it’s approval to the executor. Then the will becomes a legal instrument that the executor can enforce. Usually the executor will be named in the will and the probate court will appoint the executor to dispose of the assets of the estate according to the will.
When you inherit a property it is almost always best to seek the counsel of a local and reputable attorney who knows the process. The attorney will be able to help you through the process, providing advice on debt payments, tax situations and guiding you through the difficult process. There will be some responsibilities for the executor as the attorney will need documents related to estate planning. The estate will also put the estate information in the Alabama Messenger to notify all potential creditors so that they can make any claims against the estate. There can also be income taxes on the estate and inheritance taxes to the heirs. The attorney will be able to help you through this tedious process that can take 6 months or longer. When you work with us to sell your inherited or probate property we set you up with our expert attorney so that you can get the process started quickly.
Do All Inherited Properties Have To Go Through Probate?
In order for property to be conveyed (sold), the grantor must have authority to sign the deed making the conveyance. Generally, this occurs when the actual owner of the property executes a deed. In some instances, the owner of the property is deceased and the question arises as to whether an estate must be opened in probate court in order for the property to be sold. Normally, it is necessary for an estate to be opened in probate court, whether the deceased had a will or not at his or her death. If there is a will, generally the will contains provisions empowering the personal representative to sell property so that, after beginning the process of probating the will, the property may be sold with the personal representative signing the deed on behalf of the estate. In cases where there is no will, the process is much the same, however the probate court will typically need to authorize the sale of the property, after which the personal representative may sign the deed selling the property. In some instances, it may be possible for the property of a deceased person to be sold without probating an estate. This generally requires at least two years to have passed since the death of the property owner, as well as the signatures of each of the deceased’s heirs on a deed conveying the property.
Why Would An Inherited Property Need To Be Sold?
Most estates have outstanding debts or regular bills that will need to be paid (mortgage, utilities, etc). Depending on how much available cash is in the estate there may not be enough to cover these expenses. The executor may be forced to sell the property to avoid late fees, ongoing utility expenses and property taxes, and to avoid foreclosure. If possible it is best to wait until after the probate process is completed before selling the property. The good thing about working with Birmingham Homebuyers, LLC when selling a probate house as is is that we will work on your timeline. We understand the difficulty and lack of control you have regarding the timeline, but we can go ahead and get the process started. You can have a contract in hand so that when the probate is approved you can sell quickly.
How Selling An Inherited Property Works In Alabama
Whether or not there are any heirs to the estate, the executor of the estate will be responsible for selling the home. Sometimes there are multiple heirs and they will need to be in agreement on the sale of the house. Although the executor has the authority to sell the home, if any of the heirs do not agree there can be a contested estate which can get messy and cause problems within the family. Once everyone is in agreement on selling the house the executor will locate a buyer for the home and then usually the probate court will review the contract, make sure that all the heirs are on board with selling, and then approve the sale. When working with a local, reputable cash buyer like Birmingham Homebuyers, LLC the sale can then happen quickly! You will not need to work with a Realtor and list the property, having multiple showings and inspections. The proceeds from the sell of the house will be used to pay any outstanding debts and then are distributed to the heirs according to the will.