bypassed, avoiding fees that include attorney, court, and arbitrator costs. However, you can proceed with the actual probate by yourself if you choose to, although it’s a complex process perhaps best left to the professionals. The county court clerk for your area will provide the forms to fill out, with one to publish to all the deceased’s creditors. Because the courts are involved with probate selling, trust and probate sales have a different vocabulary compared to regular real estate. Probate sales also involve multiple contracts and disclosure statements that aren’t used with standard real estate transactions. If you’re buying or selling real property through a probate transaction, then you should use a real estate agent who has experience with these types of transactions, including trust sales. The agent will be experienced with the special language used with these types of transactions.
TYPICAL PROBATE AND TR TE AND TRUST PROPERTY SALE PROCESS
• Appointment of an administrator or executor. Generally, the decedent’s will names an executor (of the estate) accountable for distributing assets, including real estate property. If no executor is named, if the named executor is unable or unwilling to serve, or if there is no will, the court will appoint an administrator. • Executor establishes a list price for the real property. Listing price is typically decided with the guidance of a real estate agent experienced in probate and trust sales. That agent/broker will list the property for sale.
103
Powered by FlippingBook