Hey guys. I have stumbled upon a pre probate property. The father died (mother already passed) and there are two sons that will inherit the property. No will. They want to sell me the property asap due to the fathers medical bills that are unpaid. Can they sell it to me before probate? They are meeting with a probate attorney next week.
Can a title company prepare a affidavit of heir-ship? Or do I need my RE attorney? Or a probate attorney to write it up?
No they cannot as the court has not granted them the right to do so
Additionally, the father's assets must be first used to pay off any liabilities owed
Thanks @Greg H. That is what I figured but the sellers keep saying they can do an affidavit of heir ship. The title company has a form to do that but they say it needs to be prepared by an attorney.
Why don’t you call a lawyer.
I have bought property from the heir while the estate was in probate after two letters to creditors have been published.
Sometimes property needs to be pulled into probate to Pay debts and must be sold.
In NC property passes directly to heirs upon descendants death. It can be complicated to determine heirs, and they all have to sign off on the sale. An obituary can help determine heirs.
If this is a good deal, Pursue it. Call a lawyer or get more familiar with probate laws.
Yes you can. It's during the administration process that you can make your offer "Subject To'.
(Mike Landry makes this offer Subject To Mark Pedroza being confirmed by the court as PR to the Jane/John Doe estate)
As long as the PR has Full Authority, they can sell the property during the administration process of probate. At least this is what can happen in CA per the link below. (You'll probably have to copy and paste to read)ARTICLE 1. General Provisions [10500 - 10503]
( Article 1 enacted by Stats. 1990, Ch. 79. )
Can it be done ? Probably yes. Does it come with risks for the buyer ? YES
The premise here is they want to sell in order to avoid paying the bills of the estate. I think we all understand that the estate must first use any assets to pay off any liabilities. One of the questions on the Affidavit is "are there any monies owed". So they are prepared to lie ? This would seem to be easily challenged by a creditor . Would they ? Maybe
To use the Affidavit, the person must have been deceased for 6 months. This is by no means the cleanest way to settle an estate. Many title companies will not accept them. I would not want to be in a situation where there could be an issue when I went to sell the property especially knowing the premise for doing so to begin with
Obviously I am not an attorney and no one should even begin to pursue this without legal advice
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.