Determining what to do with real estate after the owner’s death.
When a property owner passes away, unless the property was owned with another person who had rights of survivorship, a probate process is necessary to determine what to do with the real estate property left behind. In many cases, probate results in the property being transferred to a beneficiary and/or sold. How real estate is handled during probate largely depends on whether or not the property owner dies testate (with a Will) and what the Will says about the property or intestate (without a Will).
The timeframe for probate conducted in order to sell real estate depends on a number of factors, but it’s important to note that in most cases, it must be done in order for the heir to pass good title to a purchaser.
There are several legal steps you need to follow when transferring property ownership after the death of a friend or family member. Probate conducted in order to sell property in North Carolina most commonly occurs when the deceased property owner states the intent to sell in their Will, or the property heir prefers to sell it after inheriting. The probate process must occur prior to closing on the property in order to sort out remaining legal issues and to provide the new purchaser with good title.
Whether you are ready to begin the probate process, or you need help determining if a probate attorney is right for you, Shepard Law is here to help. Both of our offices in Charlotte and Concord, NC can assist clients throughout Cabarrus County, North Carolina, and beyond regarding NC law.