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#36515 - 02/08/07 05:19 PM Probate
ADFM Offline
Junior Member

Registered: 02/03/05
Posts: 8
Loc: Connecticut
Can a property be sold before the probate is fineshed? I live in Connecticut.
Thank you

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#36516 - 02/08/07 09:16 PM Re: Probate
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
Yes, in certain circumstances.

Generally the estate's proceeds will just need to be held in escrow until the probate period is over.

Expenses of sale, i.e. real estate commissions, can sometimes be dispersed at closing just like a normal closing.

Not all title companies are willing to do this so you may need to shop around a bit but I've done it in Tennessee on several occasions.
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

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#36517 - 02/09/07 06:46 PM Re: Probate
Realty Check Offline
Major Contributor

Registered: 09/19/03
Posts: 2410
Loc: Panama City FL
Specific Items in Probate can be released by several methods. Some are State Dependant and you will need to have a Probate attorney assist you. Often specific personal property and real estate are released when that can be shown to be in the best interest of the estate. In my area, this is often true when mortgage debt service and Home Owner Association fees and other cost to maintain a property become excessive and start to significantly deplete the estate or when failure to make payments places the property at risk of foreclosure type sales from default.

Poor pre planning does cause many Probate problems. Almost all of which can be prevented with just a small amount of advanced planning and very minimal cost.

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