Q: Can a house go on the market and be sold pending probate?
The probate end is Oct. 17th 2024. Can I put the house on the market in July with a closing date of Oct. 17?
A: It could possibly, but you must obtain an Order from the Court. That means you have to file a motion citing grounds to do so. Potential claims and where the proceeds are going will be critical. Also who will execute the Deed?
A:
In most cases, a house can be listed for sale while it is still in probate, but the sale cannot be finalized until the probate process is complete. This is because the executor of the estate must have the legal authority to sell the property, which is granted by the probate court.
Here are a few important points to consider:
1. Listing the property: You can usually list the property for sale during probate, but you should disclose that the sale is subject to probate court approval.
2. Accepting offers: You can accept offers on the property, but the sale will be contingent upon the completion of the probate process.
3. Closing date: You can set a closing date that aligns with the expected completion of probate. However, it's essential to keep in mind that probate can sometimes take longer than anticipated, so it's a good idea to build some flexibility into the closing date.
4. Court approval: Once you have an offer, the executor will need to petition the court for approval to sell the property. The court will generally approve the sale if it is in the best interest of the estate and its beneficiaries.
In your case, if probate is expected to end on October 17th, 2024, you can likely list the house in July with a closing date on or after October 17th. However, it's crucial to work closely with the estate's attorney and the real estate agent to ensure that all legal requirements are met and that all parties understand the contingencies related to the probate process.
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