Q: What do I do if my parents died w/out a will, I am the only child & the only estate is a house and no debt?
Parents had no will. I am only child. No debts exist. Only thing to go through probate is the home they owned outright. The home is valued at $115,000
A: Firstly, sorry for your loss.
As the value of the house is in excess of $100,000.00, you will need to open a Summary Administration and go through the motions through the Court to have the house transferred to yourself as sole heir.
A: It would be a cheaper and simpler probate process if you could get the value of the house down to no more than $100,000 so you could do a set-aside--assuming you could truthfully state under penalty of perjury that all known debts have been paid.
You can do the zillow.com evaluation at the date of death of second parent to die. Maybe that gets the value down far enough. Or, maybe you can pay about $500 for a licensed real estate appraiser to get the value down if the house is in worse condition than average.
But if you are stuck with a value of $115,000, then I agree with Delwyn Weber that you need to a probate procedure called Summary Administration.
One final issue: In the vast majority of cases husband and wife own property as joint tenants. However, occasionally the joint tenancy intention gets messed up and each spouse owns half the house. If that is the case you can do two simultaneous set-asides. To see if that is the case, if the house is in Clark Co., NV, go the Clark County Assessor's website and you can search by address, name or APN. The see if the listing under vesting shows either JT or RS. If neither is shown then you need to do two set-asides.
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