About Probate Properties

At some point in our lives we all experience a death in our family. We have to deal with the grief and the accompanying legal issues it brings, as well as funeral expenses, taxes, any debts the deceased left behind, and the legal administration of the estate. Looming over all these is the possibility of getting caught up in the probate process. It is a process few of us understand and none of us enjoys.

The Probate Process

 

Probate in a general sense is the legal process by which the estate of a deceased person is concluded and administered. Simply put, it is the process that monitors how an estate will be divided and settled after death. If there’s a will, the property will be distributed accordingly. If the deceased has not left a will, or the will is for some reason considered invalid, the probate laws of the state where the property is located will specify how to divide the estate.

One important thing to remember is that probate courts are state courts, not federal courts, so the process varies from state to state. In Georgia, it generally involves:

  • Finding out whether there is a valid will;
  • Appointing an Executor if there is a will or an Administrator if there is no will;
  • Paying off any debts that the deceased may have; and
  • Distributing any assets that are left over.

 

Can The Heirs Skip The Probate Process?

 

Yes, Georgia probate laws allow skipping the probate process if all the heirs have agreed on how the assets/property will be divided. This is not an option for contentious heirs. Furthermore, this is not an option when the heirs cannot agree on how to divide the estate.

Another requirement is that there are no outstanding debts.

 

When Can I Sell The Probated Property?

 

Often the probated property is a burden because of mounting maintenance bills, taxes and other costs for a property you don’t plan to live in since you already have your own home.  You might want to sell it as soon as possible.

The court needs to be certain that the probated property gets the best possible market price by having an independent appraisal and determining the lowest acceptable price. Once the appraised value is approved by the court, the highest bidder in an auction-style selling process will get the property.

However, this is a lengthy and sometimes costly process. While waiting for the deal to close, what started out as an asset can become a liability, especially older houses that need repairs and maintenance.

Why not consider a way to take the burden off your shoulders?

Find the Right Investor Who Will Take The Burden Off Your Shoulders

At Helpful Realty, we are in the business of investing in houses, including probate properties. We will purchase your property according to what the court requires. We even have a cash option payment should you prefer it.

We will help relieve you of the worries of settling the property.  We’ll take care of the costly repairs needed and cover all costs associated with selling the house.  We’ll do this quickly and with little-to-no inconvenience to you and your family. Call us now with the details of your property and we’ll make sure you get the best deal possible.

Pin It on Pinterest

Share This
Get Instant Updates and FREE Helpful Guides!

Get Instant Updates and FREE Helpful Guides!

Join our community to receive the latest news and updates from our team. Get expert community guides regarding divorce, retirement, financial distress, and more. 

You have successfully joined our tribe! Stay connected.

We buy houses in Georgia! Call 404-394-5252