I would really appreciate any help in regard to open vs closed probate. I'm here in Houston, TX and I gathered about 30 or so viable contacts. But I notice the probate cases were closed. These cases I'm looking at are from late 2012. The more recent ones are open.
1) What is the difference between open and closed probate cases in regard to wholesaling?
2) Can I close a deal with a property in an open probate case or
3) Do they have to close the case before I can work with them?
4) Am I looking too far back in time for probate leads?
Thanks in advance for any help!
I believe Open Probate means creditors can still come forward. The court has not closed the estate. I believe Closed Probate means the court is satisfied that all creditors have come forward, and the estate has settled.
Often, the Personal Representative has authority to dispose of property-usually with court permission. Often, the proceeds must be paid into the court, to satisfy any potential claims on the estate, when probate closes.
The right times to put a probate property under contract are, prior to probate, during (open) probate and post (closed) probate. Sometimes, the probate court and the title company will allow the transfer of the property prior to the expiration of the four-month advertising period.
Thanks to the both of you! Your input was much appreciated
In CA "final distribution" (court order) is what closes a probate case file. You'll have to research TX probate law to see how probate case files are satisfied..
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