Selling a house after the death of a loved one is never easy.

The sale of a property through probate is a more complicated process than a regular sale transaction. Most people have little experience with wills and the legalities associated with administering an estate.

The task of selling your Long Island NY home through probate may seem daunting. Let’s take a look at the process and break it down to make it a bit easier to understand.

What is a Probate?

Probate is the court-supervised process by which a will is proved valid or invalid. It is the gathering a deceased person's assets and distributing them to creditors and inheritors.

The executor will take over and apply to the Probate Office to take out a grant of Probate, a legal document that authorizes an executor to manage the estate of a deceased person in accordance with the provisions of the deceased's will.

Although a home can be marketed, the sale cannot close without a grant of Probate being secured.

What documents are needed for grant of probate?

Before applying for the grant of probate with the courts, you should prepare the following paperwork:

• All personal details regarding the deceased such as the Personal Public Service and date of birth DOB

• A photocopy of the original will and any attachments or amendments.

• Names and Addresses of all beneficiaries to the estate.

• A copy of the death certificate.

• A full list of assets in the estate including title deeds

• A valuation of the property at the time of death.

• Details of any debts held including funeral bills and loans

• An Inland Revenue affidavit declaring the deceased’s tax position

What is a probate valuation?

Probate valuation is the assessment of the deceased’s property at the time of his or her death. The purpose is to ascertain the total value of the assets held in the estate.

Before a grant is given to deal with the estate, a deceased person’s assets, including cash and property, need to be evaluated. This should be done before the assets can be passed to the beneficiaries even if they don’t have any plans of selling them.

The proper evaluation of an estate’s value will determine whether probate is required or whether there is any Inheritance Tax or Capital Gains tax to pay. In addition, the application for a Grant will not proceed until the valuation is complete.

How to sell a house in Probate

The process of a Long Island NY probate sale follows court-regulated steps. The whole process has to be carefully monitored and managed because there are strict deadlines and specialized documentation. In addition, the court’s oversight must be honored throughout the marketing, offers, negotiations, and sale of the property.

You will need the help of a top-notch, experienced local real estate probate agent who can explain the language, the documentation, and the steps in the process.

That would be me, Rene Perrin, your Long Island NY probate expert. I have experience working with these more complicated sales and the required paperwork. With a trusted professional like me on your side, the process will be far easier for you.

You can visit my website at http://LongIslandProbate.com/ for more information on probate sales.

Please feel free to contact me today at 516-802-3785. Let me put my skills to work for you!