Long Island NY Real Estate in Probate

Most people are not familiar with the laws regarding wills, trust, or probate. If you are faced with selling off real estate which hasn’t

been willed to a specific beneficiary, this is where a probate court steps in to handle the selling of the estate.

The term probate is the legal process by which ownership of a deceased individual’s property is transferred to someone entitled

to receive it. The probate process includes a procedure to determine and settle the debts and liabilities of the decedent.

With this kind of transaction, it is important to ensure that the executors have obtained the Grant of Probate. Once the Probate Court has proven the Will, it

will be demonstrated in a document called a Grant of Probate.

This Grant of Probate proves that the executors have the authority to dispose of the property and are legally allowed to sign the

contract and paperwork.

Here are some things you need to know about Long Island NY probate sale:

You have to make an agreement with all parties involved. If the property is going to be sold, it is important that every person

involved with the inheritance agrees with the decision.

You have to know the tax implications. It’s important to understand that the tax is based on the value of the property on the day the previous owner died. So if the house was bought 30 years ago for $50,000 but it was worth $200,000 when the owners died, the IRS would value the house at $200,000 for capital gains purposes.

You have to prepare to sell the property. This would be the best time to enlist the help of a professional who has experience with

Long Island NY real estate in probate.

The probate process is not as simple as listing a home for sale. There is a defined legal process that must be followed to complete

the probate sale.

I understand that the last thing a family in mourning wants to do is to deal with the probate court system.

Call me, Rene Perrin at 516-802-3785. I can help you manage the estate settlement process and alleviate your stress and worry.

Let Me Help You Sell Your Real Estate that is in Probate!

Call me

René Perrin

516-802-3785With my skills and track record, I can get your

Long Island NY home in front of the widest pool of potential buyers!SellYourLongIslandHome.com