“Don’t Get Caught Off Guard: Complications of Probate Real Estate Sales”
There are several complications that can arise during the process of selling a deceased person’s real estate property as part of probate. Some common complications include:
- Disputes among heirs or beneficiaries: If the deceased person’s will does not clearly specify how the real estate property should be distributed, or if there is no will, disputes may arise among the heirs or beneficiaries of the estate. These disputes can delay or even prevent the sale of the property.
2. Liens or encumbrances: If there are any liens or encumbrances on the property, such as tax liens or judgment liens, these must be resolved before the property can be sold. This can be a complex process and may require the personal representative to work with the parties involved to resolve the liens.
3. Difficulties in valuing the property: Determining the value of a real estate property can be challenging, especially if the property is unique or has not been recently appraised. This can lead to disputes over the value of the property and may impact the sale price.
4. Complex legal procedures: The probate process and the sale of a real estate property as part of probate involve a number of complex legal procedures that must be followed. If these procedures are not followed correctly, it can delay or even prevent the sale of the property.
Overall, there are many complications that can arise during the process of selling a deceased person’s real estate property as part of probate. It is important for the personal representative to be aware of these potential complications and work with professionals, such as a realtor with probate experience, to ensure a smooth and successful sale.
