The new guide introduces several steps, offering end-to-end advice for those who have inherited a home and are considering a sale. It covers the role of the Orphan’s Court, how to list and sell the home, and distributing proceeds to the heirs.
For more information, visit https://guidetoprobate.com/
The latest release comes as industry research reveals over one million homes pass through probate every year. Because the home sale process can be confusing for beneficiaries, Berkshire Hathaway Pen Fed Realty sought to provide in-depth guidance.
Probate is a legal process through which the estate of a deceased individual is administered, ensuring that their assets are distributed according to their wishes and applicable laws. The probate guide clarifies the fundamental aspects of probate and the legal implications involved.
Maryland’s legal system incorporates a specialized court known as the Orphans’ Court, which handles probate matters exclusively. The Orphans’ Court oversees the administration of the estate, ensuring compliance with legal requirements and safeguarding the rights of all parties involved.
Petitioning the Orphans’ Court is the first step of the home sale process in Maryland. The court can then appoint an executor who assumes responsibility for the estate’s administration. Their initial duty is to obtain letters of administration, which grant them the legal authority to sell the property. Before the sale, an impartial assessment is conducted to determine the fair market value of the property, laying the foundation for its subsequent listing.
Working with a professional probate real estate specialist, such as Marc Cormier at Berkshire Hathaway Pen Fed Realty, can help to streamline the process and enable clients to sell the property for the highest price.
Cormier states: “Losing a loved one is never easy, and the legal process that follows can add to the stress and complexity of an already difficult time. If the deceased person owned a house or other real estate, it must go through the probate process before it can be sold. This process can be particularly complicated, especially if you are not familiar with the legal requirements in Maryland.”
Those wishing to learn more can visit https://guidetoprobate.com/
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