Property in Probate
The family home, or property belonging to the deceased, is often the most valuable asset in probate. Find out what is the most efficient way to buy or sell probate property.
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Sale of Property During Probate Advice
When managing an estate in probate, dealing with property is one of the most crucial tasks. This text provides information on how to handle the sale of property during the probate process, clarifying responsibilities and legal considerations whether or not there is a Will.
If the property needs to be sold and there is a Will, it is the executor's responsibility to deal with this. In the case where there is no Will, the authority of an administrator derives from the letters of administration, which you will need to have before marketing the property.
You may wonder if the executor can dispose of the deceased’s property before a grant of probate is received. In general, the executor can rely on the authority of the Will to market the property and exchange contracts; however, a grant of probate will be needed before completion.
Legally, the executor has the power to contract to sell or convey any part of the deceased’s estate before probate is granted. In practice, this is not advisable, as a purchaser cannot be forced to accept a conveyance until a grant of probate has been obtained.
This means selling a house before probate could result in legal complications and potential liability for the personal representative, so it’s best not to take the risk and wait until probate is granted.
Removing and selling items from an estate below the inheritance tax threshold is generally acceptable, but keeping transaction records is crucial to resolve any potential disputes.
For estates near the threshold, it's essential to get professional valuations to avoid disputes and penalties.
Once probate is granted, assets can be distributed according to the Will. For more detailed information, please consult our Complete Guide to the Probate Process.
Handling the sale of property during probate requires top legal advice and careful management of the estate's assets. By following specific guidelines, executors and administrators can ensure they fulfil their duties responsibly and efficiently, minimising potential risks and disputes during an already challenging time.
If you are unsure about the process and need expert advice, our Probate Solicitors are here to help.
Call us today for an initial no-obligation call, or click here for a callback. We also have meeting facilities in North Wales for Family Law Clients.
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