Probate Sale Process
Description
How to fill out Texas Petition For Release Of Excess Proceeds And Notice Of Hearing?
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FAQ
Generally, yes ? you can sell a Texas house in probate, though it can take quite a bit longer than a traditional sale. For the most part, this happens when there is a valid will that names an executor and specifies who receives the house.
If an individual dies without a will, it's referred to legally as dying intestate. In this situation, property division will be handled through a probate process overseen by the legal system. If real property is involved, it will be sold at the highest price possible through a probate sale.
What to know about probate property sales in Texas. Selling a property during probate in Texas takes longer than a traditional transaction in most cases because of state regulations. For instance, Texas law requires the final sale price to be at least 90% of the appraised value.
Probate is the process by which a court legally recognizes a person's death and authorizes the administration?that is, the management and distribution?of their estate. The simple purpose of probate is to transfer the assets out of a deceased person's name and into the names of the living.
Probate timelines can vary significantly. If the estate is small or simple, the probate court can often conclude the process within six months. However, there are many cases where probate can last for a year or longer. This is especially true where the original will is contested or is missing.