What to know about selling estate property

The demand for homes in Texas is strong. Knowing that, families may want to rush to sell the home of their loved one after they pass away. However, before they are able to put the home on the market, certain things must happen with the estate first if there is a will in place.

Families cannot sell estate property when the probate process is occurring. The first part of the process is that the creditors must be given a chance to file their claims against the assets of the estate. Creditors must be paid first before any property can be sold. Otherwise, they may end up shortchanged on the debts that are owed to them. After that, the property may be sold in accordance with the terms of the will. This means that the executor is in control of the major decisions. The executor must have the final say on key things such as which real estate agent to use and the approval of an offer for the home. If there is no will, family members still cannot simply sell the property. Instead, the court will be involved in the process of major asset sales.

Even after the property is sold, state taxes must be paid. In addition, any of the other terms in the will about the property must be followed before the proceeds can be distributed.

A probate lawyer may make the process easier for their clients. Probate can be an intimidating experience as there are many filing requirements that all must be met exactly in order to avoid delays. A lawyer might alleviate some of the stress associated with what is already a difficult time. If there are any disputes, the lawyer may help represent and advocate for their client’s position in negotiations or in court.