Can You Sell An Inherited House Before Probate in Reno?
Find out whether you can or can’t sell an inherited house before probate is finalized in Nevada.
Selling a House Before Probate
Many residents of Reno, Nevada, and the entire State of Nevada for that matter, find themselves looking for information about how to sell an inherited house before probate. This is either because they have inherited a house through a will or have been named as executor in this document.
This is a situation that raises the need to find the answers to several important questions that you have right now about probate. One of those important questions may be, “can I sell a house before probate is granted?”
Can You Sell an Inherited House Before Probate?
Individuals who ended up with an inherited home often can’t or don’t want to keep it. It could be their parent’s home where both parents are now deceased. One option is to put the house on the market but the question is, “can you sell an inherited house before probate?”
If a will exists, chances are a family member who is close to the deceased is aware of this important document. It may be that a particular person is named as the executor in the will. Now, if you are deemed the executor, you have a lot on your plate, as you are in charge of the estate. It is your job to see that the last wishes as outlined in the will are fully carried out. If the property is involved in the estate, such as a house, this most likely will have to go through a probate process. Which can be a very long and time-consuming process.
Individuals who have inherited a house may not realize that it has to go through a probate process. They may attempt to put the house on the market for sale. If they use a Realtor to attend to this, an experienced agent will know that the house must go through the “selling a house before probate” process. This is for a sale to be legal.
The probate laws are in place to ensure that the wishes of the will are carried out as intended. This is the main reason why selling a house before probate is not allowed in many states.
Nevada is not one of the states where selling a house before probate is illegal, however, there are some things that you need to do before you can sell a house in or before probate. If the estate is less than $300,000 and does include real estate, you’ll need to file with the courts a Summary Administration. Now if the estate is over that amount, a full-on Probate is required. If probate is required, we recommend using the Cross Law Group in Reno to handle the probate.
Can You Sell an Inherited House Going Through Probate?
The next question that often is raised is can you sell a house that is already going through probate?
In Nevada for example, the answer to the question of whether you can sell a house going through probate is yes. However, there are specific steps that must be taken for the sale to be complete. Here are the steps you have to take to get your house sold while going through probate, not necessarily in this order:
1. Getting a property appraisal
The property has to be appraised by an independent certified appraiser. Often an experienced realtor in probate sales will be able to recommend one.
2. Getting the petition
For the probate petition, it requires some information to be filled in. This applies to both selling a house before probate and selling one during probate. This includes all the details that pertain to the proposed sale. You may also have to outline the method in which the home will be sold. Once completed properly and submitted to the courts you then have to wait for court approval. A sale before this petition will not be considered valid.
3. Putting the house on the market
Potential buyers must be told that a sale can only be finalized after court confirmation.
4. Court Confirmation
Buyers will have to obtain confirmation of the sale from the court handling the probate case.
5. Local Newspaper advertisement
The public must be informed about the estate sale that has taken place during the probate period. This is done by running an ad about this in the local newspaper. Which in Nevada, it is 3 months minimum to advertise.
Can An Executor Sell an Inherited Before Probate?
Individuals who become an executor may find different types of property that needs to be dealt with.
They first have to understand what their role as executor is.
Being an executor doesn’t mean this individual inherits any of the property. Sometimes an executor is named by the deceased. At other times may be appointed by the courts.
One of the questions raised by an individual with this responsibility is, “can an executor sell an inherited house before probate?” It may be that the inheritors of the will want the sale of the house done quickly so they can receive their share of the sale that was allotted to them through the wishes of the will.
Throughout most states, the probate rules and regulations are pretty much the same. Some differences do exist in some of the states about selling an inherited house before probate. However, In Nevada, the will can direct the executor to go after summary administration. This makes the process much easier. It gives more freedom to the executor outside of the control of the court. If this is granted the executor does not have to ask permission from the court to sell the house named in the will.
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