What You Need To Know About Real Estate Law In most cases, real estate law covers a vast and complex concepts that it is advisable to hire an attorney to help you out. It is normal that law from one state or country to another may have different concepts of this law. One of the most common inquires in real estate law are the process of probate and wills. What is a Probate in Real Estate? A probate is a legal process which happens when someone dies. Typically, the this includes:
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oProving in the court of law that the deceased person’s will is valid
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oIdentifying, as well as, creating an inventory of the deceased person’s property. oWhen the deceased person’s property needs to be appraised. oPayment of debts and taxes. oDistribute the remaining properties as what the will dictates. It is common that the process of probate requires court appearances and a long list of paperwork. A probate court will oversee the whole process. When a person who died has left a will, it is the task of the probate court to prove the legitimacy of the will and when it will take legal effect. Finally, if ever the deceased has not left a will, the probate court will appoint a legal personal representative who will be tasked distribute the deceased property’s that is according to the Descent and Distribution law. This law will determine the distribution of assets according to the hereditary succession. What is Probate and Wills Process? After you die, your will’s executor – or if you do not have a will, the court will assign a person on your behalf – must file papers at the local probate court. The executor must prove the validity of your will and present the court with the list of your property and debts, as well as, who will inherit anything that you have left. Additionally, it is in this process when your relatives and creditors are legally notified of your death. The whole probate process will usually take at least one year, in which the executor must find, secure, and manage the assets that you have left behind. Depending on the contents of your will or the amount of the debt that you have, it is also the executor’s job to decide if they must sell your property or not. As a general rule, a will does not have any effect until it is submitted and approved by the court. If you think your assets or properties are executor must find, secure, and manage the assets that you have left behind. This will ensure that anything and everything you have left behind will be properly protected and goes to the rightful heir.

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