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For example, in California, the law states that an executor must sell a home for at least 90 percent of its appraised value. Does an inherited property have to go through probate? Not necessarily.
After probate is granted, executors are empowered to deal with estate assets, including selling and transferring assets, for the benefit of the beneficiaries. For some transactions, an executor may be required to produce a copy of the probate as proof of authority to deal with property still in the name of the deceased person, as is invariably ...
A probate sale is the process executed at a county court where the executor for the estate of a deceased person sells property from the estate (typically real estate) in order to divide the property among the beneficiaries. There is a personal representative of the estate who will determine if the real estate is going to be sold.
Without a beneficiary designation and even if you have a will, your individual account must go through probate — a court process that oversees how your assets are distributed after death ...
It's generally possible to transfer ownership of a house using a quitclaim deed or by preparing a new deed and filing it with the relevant authorities, with particular requirements varying by state.
Letters of Administration are granted by a surrogate court or probate registry to appoint appropriate people to deal with a deceased person's estate where property will pass under intestacy rules or where there are no executors living (and willing and able to act) having been validly appointed under the deceased's will.