-- Often when people inherit a house, they don’t want to live in it because they already have a home. Having the extra house can become a burden if you have to worry about caring for the property while no one is living there, so you may choose to sell as early as possible.
It can be tempting to rush out and put the home on the market as soon as you find out that you will inherit, but the house usually has to go through probate first. If you’re trying to sell a house you inherited in Texas, then you’re in luck because there are options to sell a home during probate.
Selling an Inherited Home Before Probate
To sell the home prior to probate, you will need to be named as the inheritor in the will. If the deceased owner of the home did not owe any debts secured by their property, then you may be able to sell the home before probate by using an exception. This exception is called a “Muniment of Title”.
Instead of going through probate, you will get a county court to verify the will. This will allow you to proceed with the sale of the home without going through the traditional probate procedure.
In some cases, you may be able to file an Affidavit of Heirship. If the deceased only left real estate, then the rightful heirs of the property can get the affidavit signed by two witnesses who will gain nothing from the property. The affidavit is then filed with the local deed office. This alternative is not as common and may require hiring an attorney.
Selling an Inherited Home During Probate
While many states don’t allow the sale of a home during probate, Texas does. In order for it to be legal, however, you must follow a certain process to complete a probate petition. The probate petition will allow you the right to sell a property you are inheriting while it is still in probate.
In your petition, you will explain to the courts the details of the property, how it will be sold, and related information. You will need to get the property professionally appraised so that you know its value.
You can put the home on the market when you file the probate petition, but potential buyers need to know that the sell will not be finalized until the court gives approval. Once an offer is accepted, the court will review it. It will be either confirmed or denied. The sale is not final until confirmation is given. Since you are selling during probate, public notice must be given by publishing an advertisement of the sale in the local newspaper.
Selling During Probate as an Executor
The executor of a will is only meant to oversee the will and make sure that the person’s wishes are carried out. Oftentimes, this individual cannot sell the property during probate. However, if the executor is granted independent administration status, then they are able to make decisions about the estate without approval from the courts. In this case, an executor with independent administration could list and sell the home on behalf of the inheritor.
Selling an Inherited Home Fast
It’s easy to become overwhelmed by the selling process, especially if you inherited the home unexpectedly. With all of the inspections, updates, and professionals you have to hire, it can seem like an uphill battle. Fortunately, you do have an easy option to get out of your home quickly. Home investors will offer you cash on the spot for the value of your home. They can also do a professional inspection and won’t expect you to make any repairs.
With a Superior Home Investors, you could walk away with cash in hand a few days after inheriting the home. Why wait around and do all of the extra paperwork when you don’t have to.
Contact Info:
Name: Lynk Capital Inc.
Email: Send Email
Organization: Lynk Capital Inc.
Phone: (281) 533-5555
Website: http://www.cashofferforhouse.org
Release ID: 244217
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