When a home goes into probate, many people are worried about the outcome of the process. For those closest to the deceased, that home may have many happy memories that they care about maintaining. When a home goes through probate, these are the typical outcomes you can expect.
An Heir is Dictated in the Will
One of the most common outcomes for a house in probate is that it will be directly passed to an heir which has been dictated in the decedent’s will. The final will and testament is a legal document in which an individual may present their final wishes. This includes information about the distribution of their estate, including their home. If the recently deceased individual left behind a will, the probate process should be fairly straightforward. The probate courts, along with the executor of the estate, will go through the document and ensure that all final wishes are met. Typically, the decedent will leave the home to a close relative, or their surviving spouse.
No Will is Left
While the former outcome is the most common, there are always exceptions. In some cases, the individual did not have the chance to leave a will before passing away. Legally, in this case, there is no way to know how the estate should be distributed. It’s impossible for the courts to know exactly how the decedent wanted things handled. However, to rectify this, they will work closely with the executor of the estate to distribute the estate correctly. This can be a bit more complicated and time-consuming than the first outcome, but it aims to reach the same conclusion.
The House is Sold to Pay Off Debts
The probate process doesn’t just involve deciding who should inherit the home of the deceased. This process also allows for any final debts to be settled that the individual accumulated during their lifetime. Sometimes, the executor can find creative ways to come up with this money. In some cases, however, the executor, along with the individual’s surviving family members, will decide to sell the home to pay off these debts. Because so much is already going on during this process, selling the home can be an added burden. These homes are often outdated and in poor condition, which makes them harder to sell. To avoid this hassle, consider selling the home to a home buying company. These companies will give you a fast cash offer on the home regardless of its condition, and help you finish the probate process much more quickly.
One of the main concerns of family members after an individual has passed away is what will happen to the house. It can be an added hardship, in addition to the emotional devastation of their loss. Working with a home buying company can make things easier.
If you have a Florida home that you’re struggling to sell, contact Florida Home Guys! This home buying company will give you a cash offer on your home in as little as 24 hours. Click here to learn more, and request an offer on your home today!