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The answer to the often-asked question “Can a house be sold while it is in probate in Alabama AL?” is “Yes”, but as is true of any home sale, you must adhere carefully to your state’s pertinent rules and regulations. The probate court will monitor every step and all aspects of the sale, and if you’re the executor, you, too, must monitor and approve all the terms of the sale. It can be a complex process, but understanding it will make things a little smoother.
Can A House Be Sold While In Probate In Alabama AL?
Appointment of Administrator/Executor
If the decedent’s will designated a specific person as the executor and that person is willing to act in that capacity, then he or she is officially appointed as the executor. If, on the other hand, no one has been designated as executor in the will, then the court and/or other relatives will appoint a near relative to act as administrator. In cases where disputes arise regarding the appointment, the court may consider factors such as the individual’s relationship to the decedent, their ability to handle the responsibilities, and whether they are fit to manage the estate’s affairs. Additionally, if the designated executor is unable or unwilling to serve—due to illness, conflict of interest, or other reasons—the court may appoint an alternative executor or administrator to ensure the decedent’s estate is properly administered and distributed according to the law.
Appraisal
The next step is to have the property appraised. But you must make sure the appraiser you choose is a licensed, reputable appraiser. The property must sell at a price that is at least 90% of the appraised value, so you need an appraiser who can get it right. It’s also important to ensure that the appraiser has experience in valuing similar properties in the same geographic area, as local market conditions can significantly affect the valuation. In some cases, the court may require that the appraiser provides a detailed report justifying the valuation, especially if the sale price is contested by heirs or beneficiaries. Selecting an appraiser with a track record of impartiality and accuracy can help prevent delays and potential legal complications down the road, ensuring that the sale proceeds smoothly and in accordance with the decedent’s wishes.ight.
Sale
This is the step where the answer to “Can a house be sold while it is in probate in Alabama AL?” begins to become a reality. And you’ll start by having your agent list the house on a multiple listing service so that buyers will know it’s a probate sale. It’s essential to be transparent about the probate process because it can affect the buyer’s expectations, particularly around the timeline and the potential for court involvement. Once an interested buyer makes an offer along with a 10% deposit, an offer which you can accept or reject, the offer then becomes subject to court confirmation. You must submit the offer through your probate attorney to the court for confirmation. If everyone is in agreement, then a date is set for the sale to be finalized in court. This part of the process ensures that the sale is conducted fairly and that all heirs are given an opportunity to weigh in.
When the offer on the house in probate has been accepted and confirmed by the court, a Notice of Proposed Action must be mailed to all the heirs. This document states all the terms and conditions of the proposed sale. Heirs then have 15 days to review the notice and raise objections if they have any. If none of the heirs has any objections, the sale can go forward without a court hearing. However, if there are objections, a court hearing may be necessary to resolve any disputes, which could potentially delay the sale. This process protects all parties involved, ensuring that the decedent’s estate is handled according to their wishes and in compliance with the law.
Overbidding
Now, here’s where it gets a little complicated. Before the court confirms and approves the original buyer’s offer, the judge will ask those present in the courtroom if any of them would like to bid on the property. If no one does, then the sale proceeds in the standard fashion mentioned above.
If, however, there is an overbid, the original buyer’s 10% deposit must be refunded before the new sale at the new bid price can proceed. When the overbid is accepted, the new buyer must then put up a 10% deposit, which is required to be a cashier’s check. This check for the accepted overbid deposit is presented to the executor/administrator at the winning bidder’s acceptance hearing.
Upon court confirmation and approval, a contract can then be signed. But it is a specialized kind of sale contract because it cannot have any contingencies, and escrow closes soon after the hearing, usually within 15 days.
As you can see, there are some complicated rules for selling a house while in probate. It is advised to consider contacting an attorney for more specific help.