What does it mean when a property is under probate?
What does it mean when a property is under probate? Min Austria Assistant at Ascent Law LLC Probate is the legal process where a person's will is processed and the property is transferred from one person to another. The process ensures that property has a clear chain of title. When a person passes away, a personal representative is appointed to carry out the estate's business, pay any outstanding debts and expenses, and make sure that the property is distributed to its rightful parties. These duties are carried out under the supervision of a district court. In simple cases, this process can take six to twelve months. The time required depends on the size of the estate and whether or not it is subject to federal estate taxes. A complex estate can take a year or more to complete. Once the process is complete, the property is transferred to the beneficiary. Although purchasing a property under probate is an opportunity to find an affordable property, it does require extra due dili...