My dad passed away a few weeks ago, leaving his entire estate to my sister and me. We have been thinking of selling some of the properties to get money for our upkeep. We are yet to start probate. What should we do?
Probating your loved one’s estate may last a few months to a few years. You probably think that you can easily sell any property before probate since the property will eventually come back to you. However, this may not be a good move.
There are legal processes you must follow before selling any of these properties. Else you may find yourself in a legal mess. Waiting for the probate process can be tough, but you must exercise patience so as not to make the process more complex.
Is it possible to sell the property before probate? Basically No. You do not become the legal owner of the property unless the probate process is completed. Therefore you do not possess any legal rights to sell the property until the probate court says so. A “probate attorney near me Long Island” can also give you the advice you need.
Let us go over some of the basic processes used in probate and how you can sell off your property.