Buying Property from Heir

[Soosa]

Can an heir of a piece of property legally sell it before probate is closed? It was in joint tenancy with rights of survivorship when her parents owned it (no mortgage), then her father died so it should have passed to her mother. A year later, her mother died. The mother's probate case is closed but the father's remains open - 11 years after he passed. Can she quit claim a title to me if the warranty deed is still in the deceased relative's name? She is the sole executor of her father's estate. It is valued at only $7,500 and I would prefer not to hire an attorney for a closing. Thank you.

 

[LdiJ]

Can an heir of a piece of property legally sell it before probate is closed? It was in joint tenancy with rights of survivorship when her parents owned it (no mortgage), then her father died so it should have passed to her mother. A year later, her mother died. The mother's probate case is closed but the father's remains open - 11 years after he passed. Can she quit claim a title to me if the warranty deed is still in the deceased relative's name? She is the sole executor of her father's estate. It is valued at only $7,500 and I would prefer not to hire an attorney for a closing. Thank you.

An executor of an estate can sell property within the estate. However, if I were going to purchase such a property I would insist upon a proper closing rather than going the quit claim route. You would likely want a real estate attorney involved as well.

 

[zddoodah]

Can an heir of a piece of property legally sell it before probate is closed?

That depends. In what state is the property located (and, if different, in what state is the probate taking place)? If it's something that has documented title (and it sounds like you're talking about an interest in real property), has title been transferred to the heir (whom we'll call Jane)?

It was in joint tenancy with rights of survivorship when her parents owned it (no mortgage), then her father died so it should have passed to her mother.

Your use of "should have" implies that this didn't happen. Correct?

A year later, her mother died.

So...11 years ago (2013), Jane's father died, and then her mother died in 2014. Roughly correct?

The mother's probate case is closed but the father's remains open - 11 years after he passed.

Why is the probate of Jane's father's estate still open so long after he died? What happened to Jane's mother's interest in the property at the conclusion of the probate of her estate?

Can she quit claim a title to me if the warranty deed is still in the deceased relative's name?

Sure, but you need to understand that doing so may have no significance. I could, if I wanted, quitclaim title to the White House to you. In practical effect, a quitclaim deed says the following: "The grantor hereby transfers to the grantee all of the grantor's interest in the below-described property. However, neither the grantee nor anyone else should assume that the grantor has any interest in the property. In fact, everyone should assume that the grantor has no interest in the property." In other words, getting a quitclaim deed - and especially if you don't obtain title insurance or have an attorney involved - won't necessarily give you marketable title.

She is the sole executor of her father's estate. It is valued at only $7,500 and I would prefer not to hire an attorney for a closing.

Does "it" refer to the property or the estate?

 

[adjusterjack]

It is valued at only $7,500

The estate or the property?

Judging by the other posts there are a lot of unanswered questions that could put you at risk for losing any money you purchase the property with as well as losing the property.

Then you'll be back here, or on some other site, crying "What are my rights? I can't afford a lawyer."

Be smart, get a lawyer now. It might just be a matter of getting a properly executed deed from the estate to you. That shouldn't cost much.

Like the Fram commercial - You can pay a small amount now or you can pay a large amount later.

Pay me Now or Pay me Later; Pay Me you will! (youtube.com)

 

[Soosa]

Yes, agreed, it seems having an attorney to do this is a good idea after all. Thank you very much to everyone who responded.

 

[Just Blue]

Yes, agreed, it seems having an attorney to do this is a good idea after all. Thank you very much to everyone who responded.

What state?

 

[Taxing Matters]

Can an heir of a piece of property legally sell it before probate is closed?

You may sell your interest in the property, but the buyer won't get any rights to possession of the property until the estate has transferred the property to you and then you in turn transfer the property to the buyer. If I were representing the buyer I would recommend the buyer wait to pay over any money until the estate had executed a deed transferring the property to you. There are a lot of things that could potentially happen between now and that transfer that may result in you not getting the house, like the estate having to sell it to satisfy creditor claims. So a buyer entering into a contract with you to buy it puts his/her money at risk if the buyer doesn't get a good deed from you at the time you get the money. If the buyer really wants to lock in the chance to buy it, I'd recommend the buyer buy from you an option giving that buyer the first chance to buy the property if he or she really wants it. That would give you a little money (whatever you and the buyer agree upon, though these kinds of options tend to be in the hundreds of dollars rather than thousands of dollars, at least in my area), and it would give the buyer the security of knowing someone else won't buy the property out from under him/her.

 

[Soosa]

What state?

Illinois.

 

[Soosa]

That depends. In what state is the property located (and, if different, in what state is the probate taking place)? If it's something that has documented title (and it sounds like you're talking about an interest in real property), has title been transferred to the heir (whom we'll call Jane)?




Your use of "should have" implies that this didn't happen. Correct?




So...11 years ago (2013), Jane's father died, and then her mother died in 2014. Roughly correct?




Why is the probate of Jane's father's estate still open so long after he died? What happened to Jane's mother's interest in the property at the conclusion of the probate of her estate?




Sure, but you need to understand that doing so may have no significance. I could, if I wanted, quitclaim title to the White House to you. In practical effect, a quitclaim deed says the following: "The grantor hereby transfers to the grantee all of the grantor's interest in the below-described property. However, neither the grantee nor anyone else should assume that the grantor has any interest in the property. In fact, everyone should assume that the grantor has no interest in the property." In other words, getting a quitclaim deed - and especially if you don't obtain title insurance or have an attorney involved - won't necessarily give you marketable title.




Does "it" refer to the property or the estate?

Thank you. It refers to just the piece of property.