Minnesota Probate Services
Selling Your Probate Property in Minnesota
Probate is the legal process of administering the estate of a deceased person. This process involves identifying assets, paying outstanding debts, and distributing remaining assets. Because probate is such a complex process, the help of an experienced realtor is a must. Below we’ll outline the steps involved and how our team can assist. If you’re ready to connect now for help in your probate sale…
The probate process in Minnesota
There are two types of probate, formal and informal. We’ll summarize the general process of informal probate below. Minnesota’s Judicial Branch website offers more specific information on formal and informal probate.
Visit the Minnesota Judicial Branch website.
Commencement of Probate: Probate begins with the filing of a petition in the relevant Minnesota court. This is done in the county where the deceased, the property owner, resided. The court then appoints a personal representative to guide the probate process. This representative would be someone named in the will or next of kin.
- If there is a will, the house will pass to the beneficiary or beneficiaries named in the document.
- If there is no will, the court distributes the property according to the state’s intestate succession laws (formal probate).
- If the property had a beneficiary deed or was in a trust, it can transfer to the heir named in the document.
Filing of Probate Forms: The executor must then complete and file the necessary probate forms with the probate court. These forms are different from the ones filed in formal probate sales. The court will then provide the documents that give the executor the right to manage the assets, real estate in this case.
Listing the Home for Sale: After the sale is permitted by the courts, the executor can now list the home for sale. This is where the experience of a local real estate professional is imperative. In the next section we will discuss how our team can assist in listing and selling your probate home.
Working with a Real Estate Team in Your Probate Sale
The aid of a local real estate professional in the sale of your probate home could save or net tens of thousands of dollars. We’ve been involved in the sale of countless probate homes and are intimately familiar with the process. Navigating the legal intricacies are only half the battle.
Once you, the executor, have made the choice to sell. We will begin the sale process outlined in our ‘Ultimate Seller’s Guide‘. What, if any, repairs must me made to net the most for the property? What price will the home list at? Which buyers have the highest probability of successfully closing on the home?
If you’re facing a probate sale and looking for an experienced local team, we’d love to hear from you. Reach out via the link below and let us know how we can assist in the sale of your Minnesota probate property.