Can You Sell A House Without Probate In Austin?
Can you sell a house without probate in Austin? Yes, you can. This article may guide you throughout the process so you can sell your house before probate.
You will also read about the process of probate and the way you can sell your property without probate. In addition, you will know about other processes as well, such as Judicial Determination of Heirship, Small Estate Affidavit, and affidavit of Heirship.
Let’s talk about the most important thing first: probate.
What is a probate?
Before we go ahead, we should first find out what a probate is.
If you look up in a dictionary, you will find more than one meanings of the term. But in case of real estate, probate means a process of selling a house or any other property after the deal of your loved one. Probate involves the transfer of the property in a systematic fashion.
Is it possible to sell a house without probate?
Can you sell a house without probate in Austin? It’s possible. The transfer of your real estate will depend upon the will left by the property owner. If you don’t leave a will, your state laws will determine the transfer. In this case, you can avoid probate. This article talks about multiple ways to avoid probate and get your house sold as soon as possible.
What is the probate process?
According to Jordan S. Simon and N. Brian Caverly, probate involves 4 steps that are given below:
- Swearing in a personal representative
- Notifying your heirs and the public that the owner of the property is no more
- Your real estate goes through inventory
- Lastly, the property is distributed
Now, you may be thinking how you can sell a house without probate. Know that selling a house without probate is not a rocket science. If your real estate agent says that your house can’t be sold without probate, don’t listen to him. Selling real estate without probate is a common practice.
According to SFgate, you can choose from any of the 4 ways to sell your house without probate.
Trusts
If the property is transferred in a living trust, you can avoid probate. Moreover, you won’t need to get the court approval since you are named as a trustee.
Jointly Held Real Estate
In the state of California, if a real estate is jointly held, the property won’t go through the probate process. If you are the co-owner or executor of the real estate, no probate will be required. You will have a complete authority over the property post your solo ownership.
Independent Administration of Estates Act
In case of Independent Administration of Estates Act (IAEA), it doesn’t completely avoid probate. The 90 percent rule is applicable. Executors can sell houses for at least 90% of its value. However, you must give notice to those interested in the property and get an approval from the court. This is bypassed if the deceased clearly states that you are solely responsible for the property after his or hers death.
Summary Probate
If the real estate left by the deceased is of limited or small value, you will need to file for a small affidavit for appraisal. The value of the appraisal will vary based on the state you live in.
Do you live in Austin?
Let’s take a look at 3 more ways you can choose from to sell your property without probate in Austin.
- Affidavit of Heirship
- Small Estate Affidavit
- Judicial Determination of Heirship
Affidavit of Heirship
If the owner of the property passed away without leaving a will, an affidavit of Heirship can be used. All you need to do is file the Affidavit of heirship and then you can go ahead and sell your home.
For the Affidavit of Heirship, two witnesses are required who must swear under the oath. They must:
- Clearly state that they know the person who has passed away
- State the date and the place where the person died
- State the relations to the deceased
- Have the statement of the debts of the deceased
- Not gain a financial benefit from the real estate
Small Estate Affidavit
Remember: the Small Estate Affidavit can’t be filled in a country other than the one the deceased lived in his life.
Aside from the information required in case of an Affidavit of Heirship, know that the heir is required to provide the signatures of at least two objective witnesses and all the heirs of the real estate.
Note: You can’t use Small Estate Affidavit to avoid probate if the value of the property is above $50,000.
Judicial Determination of Heirship
You can apply for Judicial Determination of Heirship if the deceased didn’t leave a will. The court will determine the heirs of the real estate and resolve the matters associated with the property distribution.
The Judicial Determination of Heirship is the most expensive and time-consuming process. In this case, you submit an application, the Probate Court identifies the heirs through an attorney, and then a hearing is scheduled after the procedure is done.
In the absence of a will, the court can perform the Determination of Heirship. After the identification of the heirs, the court will divide and distribute the property.
Do you have a house to sell?
At Reimagine Reality Solutions, we can give you a cash offer on your real estate within 24 hours. If you want to sell your Austin area house fast, you can contact us for a quote. We will answer your questions about the process of selling your house without probate whether you want to sell your property to us or to someone else. Call us now at 512.710.6201 or email info@ReimagineRealtySolutions.com.