When a loved one passes away, you may be surprised to learn you don’t get immediate possession of their home. The house, along with the rest of their estate, must go through probate, which is a legal process that determines how the estate is to be divided among the heirs.
How Probate Affects a House
A house is considered part of the deceased’s estate until probate has concluded. If the person who is to inherit the house is already living there, they are usually allowed to stay. Renters may be asked to leave, or they may become the responsibility of the executor.
If the house is vacant, and you are an heir, you can’t do anything without court approval. If it’s a direct inheritance—that is, you are named in the will to get the house or you are the only heir—you should get possession when the estate is settled.
Why Houses in Probate Get Sold
Houses in probate often get sold for two main reasons. First, the person who is inheriting the house doesn’t want or need it. Second, there might be several heirs, and no single person has been designated to get the house.
It’s very common when an elderly parent dies, that there’s more than one adult child to inherit. In that case, the house must be sold, and the proceeds from the sale are divided among them. This is very common if the parent doesn’t have a will.
How to End Probate by Selling Quickly
Nobody wants the probate process to drag on. It can be an emotional time, and when there’s a house involved, it can also be expensive. While the house is in probate, you must continue paying utilities, taxes, insurance, and other upkeep.
Traditional home sales can take months, but if you sell to a cash home buying company, you can conclude the sale in 30 days or less. Home buying companies will make an offer on your home within 24 hours and buy it “as-is,” with no repairs needed.
If you have a home in probate, you can sell it quickly. Once the estate is settled and all heirs receive their inheritance, you can wind up the probate process and be finished with the stress and strain.
Do you have an inherited house in South Carolina that you need to sell? Click here to learn more about selling to a cash buying company!