Unfortunately, many people will find that a time comes when they have to administer a Will and possibly deal with the sale of a property in Probate. When a person passes away, it’s hard to think about some of the practicalities that need to be dealt with, let alone the paperwork. The task of carrying out the terms of a person’s Will falls to their executors. If the Will includes property, then the executors must obtain a grant of Probate to allow them to administer the estate.
This can be a stressful time for those dealing with a bereavement. Understanding what it actually involves and asking the help of experts who can guide you through the paperwork will help simplify everything especially at a time when your mind will be elsewhere.
Probate is simply the legal term for the distribution of the assets of a deceased person according to his/her Will. A Grant of Probate essentially guarantees a Will is valid and confirms the Will as the last Will of the deceased.
Every estate is different and therefore it can be difficult to put an estimate on how long the process will take. The executors can make a Probate application themselves to the Probate Office but most people seek the assistance of a solicitor experienced in this area.
The value of the property at the date of death must be provided to the Probate Office in order to obtain the Grant of Probate. If a property is to be sold then it can be put on the market while the Probate application is ongoing. The advantage of agreeing a sale before the grant is issued is that the sales price achieved will provide the most accurate value for this purpose. An inaccurate value for Probate purposes can result in unnecessary taxes being charged.
When sale agreed, the solicitor can issue the contract with a special condition regarding the closing date being subject to the Grant of Probate. This allows the buyer's solicitor to review the contract and title while the Grant is pending. Probate can be slow, however, having the property sale agreed can speed up the process as the solicitor can make a submission to the Probate Office to expedite the matter.
At Quillsen, our agents have helped many people through the sale of a house in Probate. It can be an emotional time and we are available to guide you through the process to make it as straightforward as possible. We will provide a free, no-obligation market appraisal / valuation. We can help you get the property ready to go to the market and can assist with whatever is needed to ensure the property is presented in the best possible way. As executor, you have a particular duty to ensure that you are selling the property for the best possible price. At Quillsen, you can be assured that we will market the property extensively and that the highest price possible is obtained. We will also keep you updated on a regular basis throughout the process so that you can provide feedback to the beneficiaries.
We will endeavour to make what can be a difficult and sensitive time as trouble-free as possible. If you need some advice and a free valuation, just get in touch or alternatively simply email us at email@example.com or call 01 499 5050. We would be delighted to assist you.