verification that the person you inherited from was the owner of the house and that there are no claims, liens, or defects regarding the title.
PROBATE COURT AND CRED T AND CREDITORS
Once you have confirmed the legal ownership of the property, it may need to pass through probate court, depending on its value. The American Bar Association states that “probate is the formal legal process that gives recognition to a will and appoints the executor or personal representative who will administer the estate and distribute assets to the intended beneficiaries.” Laws in each state vary, so it is a good idea to consult an attorney to determine whether a probate proceeding is necessary, whether the fiduciary must be bonded (a requirement that is often waived in the will), and what reports must be prepared. Most probate proceedings are neither expensive nor prolonged, which is contrary to the claims of many vendors selling living trust services and other products.
CREDITOR'S CLAIMS PROCESS
States have differing laws on probate, including the satisfaction of estate creditors. The executor or administrator is to notify creditors that the deceased has died so that creditors can have a chance to make claims against the estate. The requirements for this notice vary by state. The personal representative may have to send letters directly to creditors and/or publish public notices. State law will dictate the procedure that creditors must follow to collect from the estate. For example, creditors must often file a claim in probate court or with the executor within a certain period after they receive the notice. According to FreeAdvice® Legal, once the administrator has determined how many valid claims there are against the estate,
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