Selling a probate property, in Florida, that you have inherited is overwhelming to say the least. From coping with the grief and loss of a loved one to dealing with the many issues surrounding selling a property like handling an estate sale, clean out, repairs, moving or living out of state, it becomes overwhelming.
Are you a personal representative or executor of an estate that’s going through probate or potentially going to be going through one? I have tips and information for you to help you through the property sale process.
Probate is a court-supervised process for identifying and gathering the assets of a deceased person (decedent), paying the decedent’s debts and distributing the decedent’s assets to his or her beneficiaries. In general, the decedent’s assets are used first to pay the cost of the probate proceeding, then are used to pay the decedent’s funeral expenses, then the decedent’s outstanding debts, and the remainder is distributed to the decedent’s beneficiaries. The Florida Probate Code is found in Chapters 731 through 735 of the Florida Statutes, and the rules governing Florida probate proceedings are found in the Florida Probate Rules, Part I and Part II (Rules 5.010-5.530).
There are two types of probate administration under Florida law: formal administration and summary administration. This pamphlet will primarily discuss formal administration.
There is also a non-court-supervised administration proceeding called “Disposition of Personal Property Without Administration.” This type of administration applies only in limited circumstances. (via Florida Bar Association)
In this blog post I have included a video where I discuss some of the situations that I encounter as a listing agent when getting a property ready for sale including working with the personal representative, heirs and their attorney.
I have worked with probate properties for many years here in South Florida and if you need to just talk or want an attorney or another local professional referral please reach out to me. I have a VIP list of vendors and I can give you an idea of property value too.
I have also put together an additional tip sheet for you called 7 Tips To Selling Your Property Fast. Just click here to get that.
Lastly, in many cases, a property may not be a probate situation, however a surviving partner or spouse may need to downsize their living situation and I can assist you with that as a Senior Real Estate Specialist. From assisted living, memory care or independent living, I can guide you to caring professionals that can assist you with making a housing decision for your loved one.
If you have would like to set up a private and confidential conversation with me about your probate property please click here.
I defer all legal questions about probate, accounting, finances and real estate law to attorneys and licensed professionals.
Michele Bellisari is a Realtor with RE/MAX Services. If you are thinking of buying or selling real estate in Boca Raton and any of the surrounding cities let her help you out!