What to Know Before You Die...and After
What exactly is probate and how does it apply to selling the deceased person's house?
Probate is a legal process that occurs after a person dies. A probate court oversees the distribution of the dead person's assets. A representative who handles the deceased's affairs will be chosen and certain notices are published in local newspapers. These notify creditors that they have 4 months to bring a claim against the estate.
Heirs and people named in the will, if there is one, are notified, debts are paid and an asset inventory is prepared. This inventory will contain the house, its contents and any other assets like stocks and bonds.
The deceased's home may be sold during probate but only by the representative appointed by the court who has legal authority to manages the estate's assets.
In the state of Oregon estates of a certain size must go through probate unless the deceased person arranged their property to avoid it. The administration of probate in Oregon takes a minimum of 4 months, but the actual time is often closer to 5 – 7 months depending on the estate size and court backlogs.
Veta the Realtor is able help you sell your loved one's home at this difficult time. She has training and experience dealing with probate.
This article is for information only and you should always consult an attorney who specializes in probate. Veta recommends Greg Roberson of Peterson, Peterson, Walchli and Roberson, LLP in Hillsboro.
Veta The Realtor
1300 N.E. 48th Avenue
Hillsboro, OR 97124