In Florida, the probate process can be time consuming, stressful, and not to mention expensive. The process becomes even more challenging if you have been named as the person who will execute a will of the deceased. If you have been named Personal Representative, Administrator, Executor, Conservator, or Trustee, you should seek advice of a probate attorney and an experienced probate real estate specialist for assistance. Most people who are given these responsibilities have never been through this process before and would greatly benefit from the alleviated stress trying to understand the process of selling a propate property.
In Florida, real estate assets make up approximately 75% of the estates that go through probate every year. Buying, selling, and investing in probate real estate can be quite an experience.
When it comes to Florida probate, most Realtors® do not quite understand what it means for the sale of real estate. Many of these properties are either sold during Florida probate administration or shortly after the property is transferred to the decedent's heirs.
Managing a probate real estate transacion takes organization. Let me help. As a certified probate real estate specialist, I can help guide you through the probate process and make the administration as effecient as possible.
Probate is a legal term that refers to the process of distributing property or an estate of a deceased person ("decedent") according to his or her will. Probate is a court-supervised process that authorizes either the sale of real estate to a potential buyer or the transfer/release of real estate to a decedent's heirs.
Whether it's an heir, seller or buyer, the definition of probate real estate never changes:
Without probate, the heirs cannot sell/convey/transfer the real estate. This process of an attorney opening a court file, procedurally moving what the deceased had to the rightful heirs, formally transferring title, is probate. Once title is transferred, the heirs have authority to sell/convey/transfer the real estate.
In Florida, the need to go through the probate process is not determined by the existence of a will left by a decedent. A Last Will and Testament is a set of clear instructions stating how the decedent wanted his or her assets to be distributed among his or her beneficiaries. Florida probate is the process in which that the will is legalized or "proved" in a court of law to be valid before the estate can be administered.
One of the biggest misconceptions that I see is that people believe that creating the Last Will and Testament will avoid probate in Florida. Actually, the Last Will and Testament will put your beneficiaries right in probate court to administer your estate and re-title your assets.