A frequent question when a family member dies in Washington DC is How to deal with property during the probate process? The probate process and the administration of an estate can quickly become complicated, particularly if several heirs are involved. Disputes about the validity of a will or trust, as well as the proper manner in which they should be executed, can easily emerge, and resolving these issues often requires legal intervention.
What is probate?
Nolo Law for All says “Probate is a legal process that takes place after someone dies. It includes:
- proving in court that a deceased person’s will is valid (usually a routine matter)
- identifying and inventorying the deceased person’s property
- having the property appraised paying debts and taxes, and
- distributing the remaining property as the will (or state law, if there’s no will) directs.
Does all property have to go through probate when a person dies?
Nolo Law for All says, no! Keep in mind, property that passes outside of your will — say, through joint tenancy or a living trust — is not subject to probate.
How do I settle an estate when a loved one dies?
First, you must determine what type of estate you are dealing with…
Large Decedents’ Estates (ADM) are opened for deceased persons who, at the time of death, lived in the District of Columbia and owned real property located in the District of Columbia and/or other assets of any value. A personal representative will be appointed to administer the estate.
Small Decedents’ Estates (SEB) are opened for deceased persons who, at the time of death, lived in the District of Columbia and owned assets with a total value of $40,000.00 or less.
Foreign Decedents’ Estates (FEP) are opened for people who, at the time of death, lived outside the District of Columbia but owned assets in the District of Columbia.
Can the house be sold during probate?
Even before clearing probate, the heirs may quickly dispose of the property. Their choices for disposal of the property includes using a realtor with a MLS listing, selling the property themselves or using a real estate investor.
We are Trusted Homebuyers and here’s how we can help. The heirs may not want to bring the house up to today’s standards. There may be no money for repairing, paying taxes. There may not be an inclination to spend time renting, or staging and showing the house. We are a cash buyer solution. We can buy the property “As-Is” and we don’t require repairs; we pay cash and can close quickly if needed, sometimes as little as seven days; and there are no closing costs or inspections for the seller.
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