After the death of an individual, their estate or property will need to be sorted out and settled. This may mean decluttering or selling some assets in the estate or selling the entire estate that belongs to the deceased.
This article will explain the things you need to know about selling the properties of the deceased. Continue reading to learn more:
- Know whether to go to the courts or not
If the deceased has left a will, then they must have put someone in charge of executing their will. It could be a trusted friend or family member, or it could be the lawyer of the deceased. The executor of the will have so many responsibilities like obtaining a death certificate and helping to organize the funeral of the deceased. After this, the executor has to get a grant of probate from the appropriate legal body. The grant probate is a document that determines if the Will is valid.
After receiving the probate, the executor has the right to sell any property in the deceased estate. However, if a person dies without appointing an executor, then a next of kin or legal representative will have to get a grant of letters of administration which works in the same capacity as the grant of probate.
- You’ll need to settle debts
An executor is responsible for all of the deceased assets and liabilities and for executing the will as stated by the deceased. So, if the deceased has accumulated some debts while they were alive, the executioner has to sort out the debts. All the monies borrowed must be paid back from the estate before the will is executed. These debts may be in the form of tax or monies borrowed from private companies.
- Determine whether you can sell the estate
If the person who is deceased wishes for their property to be sold, then the executor has no choice but to do as such. But if there’s no specific order on what to be done with the property, then the executioner can decide to sell the property.
The executor becomes the new owner of the deceased properties once he acquires the grant of probate or grant of letters of administration. At this point, the executor or legal representative of the deceased becomes the seller of the property. The executor will be in charge of everything relating to the sale of the estate and marketing the property to people who are ready to buy.
After selling the house and realizing a profit, the executor can then proceed to share the funds among all beneficiaries mentioned in the deceased’s will.
Selling a house in Birmingham shouldn’t be as difficult as it has been made to seem. You can sell your house in Birmingham without having to bother about closing costs or other extra expenses. You can achieve this by selling your house to a reliable cash home buyer like us at Chase Pays Cash For Houses. We buy houses Birmingham Alabama at competitive prices. When you want to sell my house fast Birmingham, we’re your best choice.