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Apr 29 2017

What Is Real Estate Probate? #wenatchee #real #estate

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Estates

When a person dies, the property they leave behind is generally referred to as their estate. Under the probate laws in each state, probate property gets distributed either in accordance with a last will and testament or bylaws of intestate succession. Whenever real estate is part of an estate, these same procedures and rules apply, though, there are specific aspects of probate law that only applied to real property.

Procedures

Though the probate laws differ from state to state, typically estates will be admitted before the probate court by an interested party. This is usually done by turning in the person’s will or notifying the court upon the death of the individual. The court will appoint or approve an executor to oversee the distribution of assets. The executor is responsible for determining the estate property and ensuring it is disposed of in accordance with the will or the laws of intestate succession.

Property

Both personal property and real estate interests are subject to probate procedures. For example, If a man dies without a will leaving behind two children but no spouse, each child will usually receive half of the estate, including the home and any other real property. If a man dies having left a will, the property can be conveyed according to the will.

Homestead

Conveyances of real estate through probate are limited by state law. For example, many states grants a surviving spouse a homestead rights or the right to an elective share. This means that the spouse has rights in the marital property and can choose to receive a specific proportion of the state, if otherwise not mentioned in the will or if the decedent died intestate.

Probate Court

In general, probate courts do not supervise or otherwise manage the distribution of assets during the probate process. It is up to the executor (sometimes called the personal representative) to account for and distribute all real and personal property in the state. Unless a beneficiary or potential beneficiary sues the executor or otherwise files a petition in court challenging the estate administration, the probate court plays a small role in how any property gets distributed.





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