Probate Properties
What Is a Probate Property?
Alwyne Estates have a wealth of experience dealing with the sale of probate properties and work with several local conveyancers in the area. We are one of the leading independent Estate Agents in Highbury & Islington specializing in probate sales and have dealt with a number of probate properties in the Highbury & Islington area over our 25 year existence. We are extremely well equipped to assist you with the sometimes difficult sales process, please contact us if you have any questions. Below there is some information which may answer some questions regarding the sale of a probate property.
Probate definition: in England and Wales probate is the word normally used to describe the legal and financial processes involved in dealing with the property, money and possessions (called the assets) of a person who has died.
Probate is the process of proving that a will is valid (if there is one) and confirming who has authority to administer the estate of the person who has died.
Before the next of kin or executor named in the will can claim, transfer, sell or distribute any of the deceased's assets they might have to apply for a grant of probate.
A grant of probate is a legal document that's sometimes needed to sell a property of a deceased person.
This document is only called a grant of probate if the person left a will. If they didn't leave a will, a grant of letters of administration is used instead. Both documents work in much the same way, giving a named person legal authority to deal with the estate of the person who died.
When probate has been granted, the next of kin or the executor can start to deal with the deceased person’s property. If there was a will, this sets out how the assets should be distributed. If the person died without a will the law determines who should receive everything.
Probate is usually needed when the person who died owned property in their sole name. If a bank or other financial institution has asked for a grant of probate or grant of letters of administration (also called a grant of representation), this means probate is likely to be needed.
If a house is held in the deceased person’s sole name then a probate will be needed to sell it. If the house is held as joint tenants and the surviving co-owner wants to sell the house, they can do so with a copy of the deceased’s death certificate.
No you can complete the sales transaction until the probate has been granted. You can list the property for sale but cannot legally complete without grant of probate. Buying or selling a probate property can take longer than a normal transactions due to the complexities it may involve.
Some Previous Probates we have sold.
What is a probate sale?
Probate definition: in England and Wales probate is the word normally used to describe the legal and financial processes involved in dealing with the property, money and possessions (called the assets) of a person who has died.
Probate is the process of proving that a will is valid (if there is one) and confirming who has authority to administer the estate of the person who has died.
Before the next of kin or executor named in the will can claim, transfer, sell or distribute any of the deceased's assets they might have to apply for a grant of probate.
What is a grant of probate?
A grant of probate is a legal document that's sometimes needed to sell a property of a deceased person.
This document is only called a grant of probate if the person left a will. If they didn't leave a will, a grant of letters of administration is used instead. Both documents work in much the same way, giving a named person legal authority to deal with the estate of the person who died.
When probate has been granted, the next of kin or the executor can start to deal with the deceased person’s property. If there was a will, this sets out how the assets should be distributed. If the person died without a will the law determines who should receive everything.
When is probate required?
Probate is usually needed when the person who died owned property in their sole name. If a bank or other financial institution has asked for a grant of probate or grant of letters of administration (also called a grant of representation), this means probate is likely to be needed.
Do I need probate to sell a house?
If a house is held in the deceased person’s sole name then a probate will be needed to sell it. If the house is held as joint tenants and the surviving co-owner wants to sell the house, they can do so with a copy of the deceased’s death certificate.
Can I sell my house without grant of probate?
No you can complete the sales transaction until the probate has been granted. You can list the property for sale but cannot legally complete without grant of probate. Buying or selling a probate property can take longer than a normal transactions due to the complexities it may involve.
Some Previous Probates we have sold.
