The real estate industry can be confusing to most people, especially if you have never bought or sold property. If you already own property, you know more than most people who do not own property. Sellling real estate in probate is a process that may be different from one state to another. In California, sellling real estate in probate requires a Notice of Proposed Action. The estate attorney prepares a Notice of Proposed Action to alert how much the property owner made from selling the property. This process allows property owners the ability to avoid courts to confirm the sale.
Sellling real estate in probate may involve a deceased owner. Furthermore, inherited real estate involves a different handling process than normal real estate. The only reason probate property would ever involve the court is when heirs contest in writing against the sale. Heirs have a 20 day period to contest sellling real estate in probate in the state of California. As mentioned before, each state may handle sellling real estate in probate differently. Be sure to get familiar with your state’s laws and regulations that govern how property is sold before signing any contracts. Contact a real estate agent that specifically handles probate real estate if you have any questions. Be sure to ask your real estate agent about inheritance advance loans if you have an emergency.
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