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Can You Sell a House Without Probate in MD?
In this article, I will explain everything you need to know about selling a house without probate. We will also look at how probate works, how you can sell a house before and without probate.
But, first thing’s first.
What is a probate?
First, let’s look at what a probate sale means.
The dictionary identifies several meanings of the word probate, however, in our case, it’s a method of administrating a property after you die.
Probate is used to transfer your property in an orderly matter.
Is selling a house without probate possible?
Yes. Your will determines the transfer of your estate during a probate. If you don’t have a will, the transfer is decided by the laws of your state – and that’s when you are able to avoid probate. In this article, I define 3 ways you can avoid probate and sell your house fast.
How does a probate work?
N. Brian Caverly and Jordan S. Simon defined four processes to a probate:
- Swearing in your personal representative
- The public and heirs are notified you are dead
- Your property goes through inventory
- Your estate is distributed
So how can I get away with selling a house without probate?
Selling a house without probate is a lot easier than you think.
A real estate agent might often tell you that your house cannot be sold unless it’s probated. They are WRONG.
Selling a house without probate is possible and it is, in fact, very common.
Trusts
If you’re lucky enough and the decedent placed his property in a living trust, you will avoid probate. If you are named as a trustee, you are able to sell the house without probate court approval.
Jointly Held Real Estate
In Maryland, joint tenancy is free of probate. If you are the executor and the co-owner of the property, you are also free of probate and have full authority after solo ownership. Just be mindful that depending upon the relationship of the co-owner the transfer may be subject to inheritance tax.
Small Estate Administration
The small estate is filed in the same county in which the Decedent resided during the time of their death.
Please note that this option will only avoid probate if the property value is less than $50,000.
Ready to sell?
Estate Property Solutions, located in Silver Spring, will give you a cash offer on your property in less than 24 hours of making a request. As a bonus point, your property can be sold in less than a week.
We buy houses in the Silver Spring area. If you need to sell your Silver Spring area house fast and would like to get a no-obligation cash offer, call us now at 3012764441. Whether you decide to sell your house to us or not, Estate Property Solutions would like to help answer questions you might have about the process.