If you are looking for information on the process of selling a house in probate in Florida then this article will help explain the process.
(This article is for information purposes only, we’re not giving legal advice. We recommend consulting a local probate attorney.)
How do you know if selling the property is contingent on Probate?
If the property was only in the decedents name at the time of death or if it was in the decedents name and other parties names as tenants in common (without right of survivor ship) then probate will be needed in order to transfer the ownership of the property in order to sell the inherited house.
When does the property not have to go through the probate process?
Ownership of the property can be passed on without going through the probate process in the following situations.
•If the decedent was married at his time of passing and the property was in the husband and wife’s name as tenancy by the entireties.
•If the property was held by the decedent and other parties as joint tenants with the right of survivorship.
•If the property is held in a trust
•If the property was in a life estate with the remainder of interest to another.
What are the two most common types of Probate in Florida?
This would be the most common type of Probate you will encounter. If the total amount of the decedents estate is more than $75,000, then in most cases you will need to follow the formal administration process.
This requires you to file a petition with the court in order to appoint a person representative for the disbursement of the estate and also to make sure if there are any creditors owed that they are paid with the proceeds of the estate. the personal representative will also be responsible to distribute any remaining assets to the beneficiaries of the estate. This process can take quite a bit of time, usually no less than 5 months to complete.
If the total value of the decedents estate is less than $75,000 and/or 2 years has passed since the person passed and the will does not direct the heirs to follow the formal representative procedure than the summary Administration can be used to settle the estate.
Under this type of proceeding there is not a personal representative decided
by the court. The court will issue an order which will outline the distribution
of the assets. In order to be bale to sell the property in Florida that is in the
estate under this proceeding all the beneficiaries named on the order must agree and sign the sales contract and deed.
At what point can the probate process can the personal representative sell the property?
For the sale of the real property in the estate to be successful time is usually of the essence with the buyer. A potential buyer will need to have some type of timeline in order to make the proper arrangements to move into the new house. This is one of the main reasons people that face unexpected life events and inherit a house in Jacksonville choose to sell their house to a home buying company like Blonde Girl Homebuyers.
We understand the process and can buy your house in as little as 10 days if needed. We are also able to pay all cash and buy your inherited house “as is” no repairs needed. Take a look at our home buying process and see for yourself why this makes selling an inherited house hassle free.
If your planning on selling to a homeowner who will live in the property it is best to not market the property until the personal representative is issued the authority to sell the house. It is best to obtain the right to sell as quickly as possible in the probate process.
If the decedent passed and had a will in place (testate) that included the power of sale the appointed representative can sell the property once named by the court.
If the person died without a will (intestate) or the will has no power of sale clause the personal representative can only sell the property with authorization from the court. The title cannot change names until the sale is authorized and confirmed by the court.
Even though you are able to sell the house in a timely manner the proceeds of the sale cannot be distributed to the beneficiaries until all of the decedents creditors have been paid and no less than 3 months after opening the estate.
Testate – This means that the person died with a will in place that usually outline how the decedent wanted to disperse the assets of the estate.
Intestate– the person died without a will in place. In this case you will follow the requirements of the intestate law in Florida.
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If you have recently inherited a house in the Jacksonville Florida area and are looking for a hassle free solution to sell your house fast then give Gracie Weis a call at the Blonde Girl Homebuyers Jacksonville office. There is no obligation and the consultation is 100% confidential.
Blonde Girl Homebuyers
3948 3rd St S # 134
Jacksonville Beach FL 32250-5847
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