Q: If I’m the sole heir and my dad has a house under his name alone, is there a need for probate?
My dad has a very clear will & everything was left to me. But there is a balance on the property, that I will be paying off as soon as I know I’m within the law to do so.
A:
Because the house was in his sole name the Will giving it to you can only be given effect through the probate process. (This assumes he was unmarried when he died, because if he was married, the wife might have rights to the house depending on the total fact situation.)
The house will have to be probated using the cheaper, easier, Set-Aside procedure if the value of the house minus mortgage owed combined with other probate assets is no more than $100,000.
If the equity in the house plus other probate assets is more than $100,000 but not more than $300,000, the process will by Summary Administration. If the equity in the house plus other probate assets is more than $300,000 the process will be General Administration.
In determining the value of the house before deducting the mortgage owed, the Court will accept the free online Zillow.com estimate or an appraisal from a licensed real estate appraiser with a copy of the appraiser's license attached.
This assumes that the house is in Nevada.
You may find a large variation in probate fees from different probate lawyers if there is a substantial mortgage on the house. My prices are on my website: probatenevada.net
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