Did you inherit a house in Phoenix? Inheriting a house can be a gift, but it also comes with its own challenges, especially if there isn’t a will or you’re not the sole inheritor. You may be wondering whether you’ll need to pay certain taxes, or whether an executor can sell the house without all the beneficiaries being on board.
If you’re trying to sell an inherited house in Phoenix, you should know how probate works, whether you can sell without going through probate, and how you can potentially make your home sale easier.
What is probate?
Probate is a legal process that determines how a person’s assets are divided after they pass away. It involves managing the deceased's estate through the probate court, which includes distributing their assets and settling any debts. In Phoenix, this process ensures that the deceased's wishes are followed and that their estate is managed according to state law. This is often done by a court-appointed executor. Probate may be different depending on whether you have a will.
- With a will: In cases where the deceased left a will, probate validates it and appoints an executor to manage the estate.
- Without a will: If there's no will, Arizona intestacy laws determine how the estate is divided, and a court will appoint an administrator.
How does the probate process work in Arizona?
The probate process involves several steps to ensure the estate is settled properly.
- File a probate application: The first step is to file an application with the probate court in Maricopa County within four years of the previous owner’s passing.
- Probate hearing: After filing, a probate hearing is scheduled. During this hearing, the court confirms the will, if applicable, and appoints the executor or personal representative.
- Administering the estate: The executor manages the estate, including paying debts andtaxes as well as handling assets like real estate. This involves appraising the property, paying creditors, and distributing the proceeds to beneficiaries.
- Closing the estate: Once all debts are settled and assets are distributed, the estate is formally closed by the court. In an informal probate, a personal representative will file a closing statement outlining everything that occurred during the probate process. If no objections are filed within a year, the court will close the estate. In a supervised probate, a petition to close the estate needs to be filed with the court. The executor can sell a house without beneficiary approval, but they must provide proper notice and get court approval.
The probate process for a Phoenix home can take anywhere from a couple months to a year or more. Common factors that influence how probate plays out include:
- The size of the estate
- The presence of a will
- Any debts, liens, or taxes due on the estate
Can you sell an inherited house without probate?
In Arizona, it is possible to sell an inherited house without going through the full probate process in certain situations:
- Small estate affidavit: If the estate’s value is under $75,000 and 30 days have passed since the death of the decedent, you may use a small estate affidavit to transfer assets without going through probate.
- Transfer on death deed (TODD): A TODD allows the property to transfer directly to a named beneficiary upon death, without needing probate. If the deceased had a TODD in place, you will be able to sell the house immediately.
- Living trust: If the deceased’s assets were placed in a living trust, the property can be transferred to beneficiaries according to the trust’s terms without going through probate court.
- Affidavit of heirship: Similar to a small estate affidavit, an affidavit of heirship allows the transfer of property without the involvement of the courts. An affidavit of heirship cannot be used if there are outstanding debts.
You may want to consult with a local estate attorney to discuss which option is best for your situation.
Benefits of selling an inherited house without probate
Selling an inherited house without going through probate can offer several advantages, including:
- Time savings: Probate can be a lengthy process, often taking several months to over a year. By avoiding probate, you can expedite your property sale in Phoenix.
- Cost savings: Probate involves court fees, attorney fees, and other costs. Selling without probate can reduce these expenses.
- Reduced complexity: The probate process can be confusing, and it requires extensive paperwork and court appearances. The ability to avoid probate will depend on various factors, including the presence of a will or additional documentation.
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Tired of the hassle of dealing with an inherited property and want to streamline your sale? Reach out to We Buy Ugly Houses in Phoenix today to find out how simple it can be to get the home sale you want.
This blog is for informational purposes only and should not be considered legal advice.
