When does a house go to probate?
When does a house go to probate?
When a person dies, their estate goes through a probate court process. The court will appoint an executor, who is responsible for administering the estate and paying off the debts. During this time, the executor also needs to determine who the beneficiaries of the estate are. The decedent may have designated a spouse or a child to be the executor, or the court may appoint someone else. Once the executor is appointed, they must distribute the estate's assets to the beneficiaries. Often, a spouse is the sole beneficiary, while surviving children may be equally divided.
Probate is also necessary if the deceased left behind valuables, such as jewelry, heirlooms, and other items that will need to be sold. It is also important to note that some states allow other potential buyers to make offers on a house. If this occurs, the original buyer will lose the house and must sell it to a higher bidder. This can take months, and the court must approve the sale of the property before closing.
The amount of taxes that will need to be paid is determined by state law. A deceased person's total assets are considered when calculating the tax amount. An attorney should be consulted to determine the exact amount of taxes that need to be paid.
If you have any questions or in need a Real Estate Attorney, we have the Best Attorneys in Utah. Please call this law firm for free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
