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Our team has the expertise to help you navigate & resolve probate challenges.
We offer valuable resources and support to guide you through the process, acting as a trusted advisor every step of the way.
Probate is a legal process that involves the transfer of property and assets to the beneficiaries of a deceased person.
Purpose: The purpose of probate is to collect, protect, and distribute the deceased person's assets.
Process: Establishing the will; The probate court determines if the will is valid and appoints an executor to manage the estate.
Paying debts and taxes: The executor pays any debts and taxes owed by the deceased using the estate's funds.
Distributing assets: The executor distributes the remaining assets to the beneficiaries.
Time: The length of the probate process varies by state and the size of the estate, but it can take anywhere from a few months to over two years.
Cost: The cost of probate is typically between 2% and 5% of the value of the assets involved.
Probate is not required in all cases.
For example, if the deceased person's assets were transferred to a living trust or jointly owned, probate may not be necessary.
What Type of State are you in?
Judicial Foreclosure
* A civil lawsuit is formed against the borrower.
* Everything is handled by the legal court system.
* A notice of pendency is performed.
* The court agrees or disagrees on the lender’s decision of foreclosure.
* The notice of sale is published. The process takes from 4 to 8 months.
Non-Judicial Foreclosure
* A deed of trust is used to secure the debt, giving a third party interest in the property.
* The trustee can start the foreclosure process.
* A Notice of Default is recorded, giving the borrower a set time to pay what is owed or challenge the action.
How It Works:
Foreclosure works differently in different states. In some states, the lender will use a judicial procedure. In others, it can foreclose without going through the court system, using a "nonjudicial" foreclosure.
Understanding Probate Options
When you inherit a house, it may be tempting to sell it right away, especially if you don't intend to keep it. However, selling the property before probate is generally not allowed. The probate process ensures the deceased's wishes are honored according to their will. If you're the executor, it's your responsibility to manage the estate, including any property sales. However, most property sales involving the estate must go through probate, which means you may need to wait before listing the house for sale.
Exceptions and Alternative Processes
Exceptions and Alternative Processes
There are a few exceptions to the standard probate requirement:
Muniment of Title: This process can be used when there's a will and no debts against the property. A local court must validate the will, after which the property can be transferred to the beneficiaries.
Affidavit of Heirship: Applicable when the estate consists only of real property (like houses), this process transfers property directly to the heirs. It involves filing a signed affidavit by two disinterested parties with the local deeds office.
1. Sell Your Inherited House During Probate. (Not applicable in most States)
In some states, like Alabama, Florida, or Texas, you can sell a house that’s undergoing probate.
What you would need to do:
Appraisal: Get the property valued by an independent appraiser.
Probate Petition: Fill out and submit a detailed petition about the sale to the court and wait for approval.
Market the House: Inform potential buyers that the sale needs court confirmation.
Court Confirmation: The sale must be confirmed by the court.
Public Notice: Advertise the sale in a local newspaper to inform the public.
2. Alternative Option is to Sell Your Inherited House to a Cash Home-Buyer.
When selling to a cash buyer, you won’t need to worry about repairs, and you’ll save thousands on agent commissions. Plus, you can receive a no-obligation cash offer within 24 hours.
We provide a cash offer within one day, and you can choose a closing date that works for you - sometimes in as little as a week.
If you need to sell your house quickly and want a no-obligation cash offer, complete the form ->
or call +1. 843.855.7542
We’re happy to answer any questions you have about the process.
Connect HERE for assistance.
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Common Issues People Face When Inheriting a Home
Inheriting a property that has not gone through probate and is in danger of foreclosure requires careful legal and financial management. Taking timely action to address probate, debts, and foreclosure risks can help protect the property and avoid complications.
Unclear Ownership
Problem: Without probate, the ownership of the property isn't legally transferred to the heirs, meaning they might not have clear title to the property. This creates legal confusion about who has the right to sell, mortgage, or make decisions about the property.
Impact: Heirs may find themselves unable to sell the property or take action to prevent foreclosure if the estate hasn't been legally formalized through probate.
Probate Process Delays
Problem: If the deceased did not have a will or the estate plan was unclear, the probate process can be lengthy and complex. In this period, the property may still be tied up in court and subject to foreclosure proceedings.
Impact: The delay in probate can mean that foreclosure actions continue, causing a loss of time in preventing foreclosure or addressing financial concerns related to the property.
Outstanding Debts and Liens
Problem: If the deceased had significant debts, including mortgage payments, tax liabilities, or other liens, the property may be at risk of foreclosure even before the probate process is complete. The heirs are typically responsible for handling these debts, but they may not have been informed about all of them until the probate process starts.
Impact: Heirs may face financial pressure if they can't resolve outstanding debts in time to prevent foreclosure or if the property doesn't have enough equity to cover the debts.
Mortgage Payments and Property Taxes
Problem: Even though the property legally belongs to the deceased person, the mortgage and property taxes may still need to be paid during the probate process. If the heirs can't make these payments on time, the property could go into foreclosure or accrue tax liens.
Impact: Heirs may be unaware of the ongoing responsibility for paying the mortgage or property taxes, leading to missed payments and potential foreclosure.
Involuntary Foreclosure
Problem: If the mortgage is not being paid because the deceased's estate hasn’t been probated or the heirs haven’t taken action, the lender can foreclose on the property. If the probate process is slow or complicated, the lender may proceed with foreclosure while the estate is still in legal limbo.
Impact: Heirs may find that the property is lost in foreclosure before they even have the chance to claim or resolve the issue.
Inability to Sell or Refinance
Problem: Without the probate process, the property cannot be legally sold or refinanced by the heirs. The bank or financial institutions may not be willing to work with anyone other than the officially recognized owner.
Impact: Heirs may face difficulty in selling the property to pay off debts or avoid foreclosure, especially if the property’s financial situation (e.g., mortgage, unpaid taxes) is dire.
Conflicting Claims from Other Heirs
Problem: If there are multiple heirs or family members involved, there could be disputes about who has the right to make decisions about the property, especially if the property has not been formally transferred through probate.
Impact: Disagreements between family members can delay the resolution of the situation and lead to inaction, contributing to foreclosure risks and further complicating the transfer of ownership.
Property Maintenance Issues
Problem: The property may be neglected during the probate process, especially if the heirs are unaware of their responsibilities or are unable to afford maintenance costs. Over time, the property may fall into disrepair, which can decrease its value and complicate foreclosure proceedings.
Impact: Deterioration of the property could make it harder to sell, and it could potentially be lost to foreclosure or a tax sale if the condition of the property is bad enough.
Potential for Escalating Costs
Problem: If the foreclosure process progresses without heirs taking action, it could lead to added costs such as attorney’s fees, foreclosure fees, and penalties for unpaid property taxes or mortgage. In some cases, heirs may need to hire an attorney to navigate the probate process or foreclosure.
Impact: As costs rise, heirs may find themselves in a difficult financial position, especially if the property’s value is insufficient to cover all the outstanding debts.
Legal and Financial Complexity
Problem: Inheriting a property without probate introduces significant legal complexity. Without a will or trust in place, heirs might face difficulty in establishing their right to inherit the property. Additionally, probate laws vary by state, so heirs may not fully understand their rights or obligations.
Impact: This can lead to confusion, missed deadlines for foreclosure defense, and ultimately result in the loss of the property if not handled properly.
Difficulty in Finding Proper Legal or Financial Assistance
Problem: Heirs may not be aware of how to manage the property’s mortgage or taxes or how to initiate the probate process. They might not know that they need to open probate before they can legally inherit the property or act on its behalf.
Impact: Without legal or financial assistance, heirs might make poor decisions that lead to the loss of the property, such as failing to address the foreclosure or not acting quickly enough to start probate.
Potential Solutions or Actions Heirs can Take
Initiate Probate ASAP
Start the probate process quickly, even if the property is in foreclosure. This could allow the estate to be administered properly, potentially stopping or delaying foreclosure.
Consult with an Attorney
Heirs should work with a probate or real estate attorney who can guide them through the probate process, help negotiate with creditors, and provide advice on how to address the foreclosure risk.
Sell the Property Quickly
If the heirs don’t want to keep the property, selling it quickly may help pay off the mortgage, property taxes, and other debts, potentially preventing foreclosure.
Loan Modification or Refinancing
Heirs may be able to negotiate a loan modification with the lender to reduce payments or modify the loan terms, making it easier to keep the property.
Consider a Short Sale or Deed in Lieu of Foreclosure
If the property’s value is less than the mortgage debt, heirs could explore options like a short sale or a deed in lieu of foreclosure to avoid the full foreclosure process.
Make Mortgage and Tax Payments Temporarily
If possible, heirs could take over the mortgage payments and property taxes temporarily while probate is being completed to avoid foreclosure.
Look into State-Specific Programs
Some states have programs that allow heirs to delay or prevent foreclosure, especially if the property is in probate. Heirs should check with local housing agencies or legal aid services for possible assistance.
Our Process
Complete the short form.
By completing the short form, you provide us with the information we need to explore possible alternatives to help you avoid losing your home to foreclosure.
We will schedule a time to chat.
We will chat about your unique situation and divide a plan to help you keep your home, sell your home, or whatever you decide to do with your home.
We will walk you through your options.
We are here for you from start to finish. You never have to feel alone in this process.
We will help you transition.
Re-instate your loan, catching up, on mortgage, or sell your home, we are here to help you get to the next chapter in your life.
Our Mission Statement
Our mission is to provide compassionate, effective assistance to homeowners facing foreclosure, helping them find the best solutions to protect their homes and financial well-being.
We are dedicated to offering personalized support, guidance, and resources to help you navigate this challenging time and secure a positive path forward.