5 Things To Be Aware Of When Dealing With A Greenville Probate Property Dealing with probate can be a daunting and time-consuming task, especially after dealing with the loss of a loved one. In this post, we offer five things you should be aware of when dealing with a house in probate.
What Is Probate In Greenville SC?
Probate is the process that occurs after someone passes away to pay off debts and to pass on inheritances to the heirs. While the laws vary from state to state, there are some general things you can expect no matter where the property is located. To become the legal owner of a home after someone passes away, you may be required to go through the probate process. When a will is present, an executor will already be assigned. However, if there isn’t a will, the courts will assign an executor to facilitate the process.
#1 The Will Needs To Be Proven Valid
When someone passes away, the court will need to be notified to open a probate case. The will must be provided, along with documentation proving that it is valid.
#2 You Will Need To Notify Creditors and Heirs About The Greenville Property
After your loved one passes away, you will need to notify all creditors and potential heirs that you are opening a probate case.
#3 You’ll Need To Take Inventory Of The Entire Estate in Greenville
In addition to real estate, the courts will need to know about other investments such as stocks, bonds, cards, deeds, bank accounts, or any other high-value items.
#4 The Process Can Be Time Consuming
If you are responsible as the executor of the estate, you may find yourself dealing with paperwork, phone calls, and court hearings that can take up a good amount of time.
#5 You Can Sell The Greenville Property While In Probate
A quick and easy solution for a house in probate is to simply sell it. If the estate is intestate, meaning no will is present, the house will need to be sold through the probate courts, which is a highly regulated process. There are court fees and specific processes that must be followed. These processes vary from state to state.
Let us help you with your Greenville probate property! Reach out to us today for more information! 864-477-2433
Disclaimer
*This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice. WeBuyHousesGreenville.com always encourages you to reach out to an advisor regarding your own situation.
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