You can sell a house that will enter probate in Florida, but only if certain conditions are met. There are laws that strictly determine what can and cannot be done with a deceased person’s assets. If you have inherited a house that you do not wish to keep, you might be asking can a house be sold in probate in Florida.
The following is not legal advice, but can help someone understand how complicated the procedure of asset division can be.
Florida Probate Code for Asset Distribution
Like all U.S. states, the senate creates and passes laws that pertain to the division of property when a person dies. Real estate is a common asset to have upon death, but the legislation is not so easy to understand.
If you are not working with a probate attorney in FL, it helps to seek legal advice prior to signing any agreements.
Title XLII of the Estates and Trusts statute is what will govern the entire dispersion of remaining property that a person owns at the time of their death.
Administration of Probate for Property Owners
There are two main ways that administration is used to divide the house, life insurance policy or bank account with and without a living will. The type that is applied with depend on if a person has a registered will, was a resident of the state ,and owned real property that is to be divided upon heirs or appointees.
1. Formal Administration
This example is the standard way that a large percentage of people’s assets are tabulated. In general, an estate that is more than $75,000 in total value is brought through the formal probate administration process.
Paperwork is filed with the local Clerk, and the court will appoint a trusted representative. Florida law does not recognize an “executor” like in other U.S States. The duties of this appointed person are to lawfully sell or distribute all or a portion of the deceased person’s estate.
2. Summary Administration
Not every person dies with a large estate value. In fact, many people pass away with cash and real estate holdings that are less than $75,000. Also, an adult may have already been dead for two years or more when the sale of a property is imminent. In such a case, the court does not appoint a special representative.
The Order of Summary is a document that details who owns a home. All owners must sign this document as well as the original deed prior to a sale being processed. The deed would then be recorded in the County where the home is located.
Only Personal Representative Can Sell
Under state legislation, once a personal representative has been appointed, it is only he or she that can sell your FL home in probate. These representatives usually work with family law attorneys to coordinate the successful sale.
It is not uncommon for a vacation home or second house to be sold without the knowledge of a son, daughter or other relative of a person who has passed on.
Notices are often placed in Newspapers to alert possible relatives or those who could contest a possible sale of a home to a third-party. Creditors might also have a claim in the asset transfer if someone owes debts.
Yes, Inherited Property Can Be Sold
If you have been willed a home by someone, the house can be sold for cash if the probate laws are followed. It is always best to work closely with an experienced person or agency when such strict legislation involved.
CashBuyerTeam.com works with property owners statewide to assist with houses in all types of condition that need to be sold as-is quickly.