Help! Probate Question....
I am totally new to the whole probate thing and I have a lady who is interested in selling her mother's house that will be passed to her by probate in October. I've done my due diligence to know that it is worth the time. Are there contingencies that need to be covered in the contract to protect myself or prevent her from selling the property while the house is in the process of being transferred? Or is it pretty much the same process of buying any other piece of property? I meet with her tomorrow AM.....!
If the house is in probate there is a few questions that will need to be answered before you go getting any papers signed.
#1 is there any liens on the property?
#2 if house is in probate means that there was no will and if that is the fact is there anyone who may step forward and contest anything.
#3 if there is no one else and there are bills/liens then items must be sold off to pay these bills.
#4 Speak with a lawyer who knows the probate laws in your state.
I dont think anyone could sign any contract on a house they are not the owner as of yet. On this one make sure you cover every angle October is close in some ways but far enough away for someone to throw a wrench in your plans.