SELLING A PROPERTY IN PROBATE IN NEW JERSEY
What is Probate?
In legal terms, probate is the legal process where a Will is validated via the court as a legitimate will of a deceased testator. Simply speaking, it is the legal process that takes place after someone dies. It makes sure property and possessions are given to rightful heirs, and any taxes or debts owed are paid in full. If there’s a written a will, the court will first authenticate it and then make sure the directions in the will are carried out.
Probate can be conducted solely with the executor appointed under the Will.
Dividing assets under probate can be a long and stressful process, especially Real Estate previously owned by a departed loved one. At Yze group, we are sensitive to your already disrupted lives and will buy that Real Estate with no fuss, to put Cash in your hands on closing date of your choosing.
This moment may not be the most ideal for you to deal with the stress of selling your home the traditional route. We guarantee no repair requests, no realtors, no long drawn out mortgage application process. We buy houses in ANY condition!
When Is Probate Necessary?
Probate is necessary in all cases, even if there is a clear will in place. Probate basically acts as the supervisory process of distributing assets and titles to those named as heirs in the will.
If there is a will, the process of transferring ownership of all assets to the heirs is a lot easier!
All a probate court judge has to do is validate that the will is genuine and authorize the executor to carry out the responsibilities outlined in it.
If there’s no will, the probate process kicks up a notch, and a judge has to do the work the will was supposed to do by first appointing the personal representative responsible to manage and distribute the assets according to the concerning laws.
What are the benefits of a Probate?
- It insures the proper beneficiary gets the testator’s inheritance, in the case where there is no will in place.
- The probate system is really helpful to those who want to make the distribution public.
- A probate gives the court the chance to deal with a disputed will.
- Probate establishes the authenticity of the will.
How can you sell the house quickly?
The faster someone is able to sell the property, the less stress and hassle they will be facing. Probate can take on average 6-9 months. By selling the house fast, one may simplify the process of dividing assets among beneficiaries and minimize the length of time the probate process takes.
At YZE Group, we have a thorough understanding of how the probate process works. It can be very stressful!
Let us help you explore your options!
- Contact us here for an appointment.
