Got a DC deal that is in probate. The deceased’s son called me wanting to sell. Owner on the city tax rolls is listed as ***** LEWIS ASSOC P.C.
What do I need to know about probate in order to wholesale this house?
Hi,
Here again I am going to walk gingerely through this as I don't know the state of this property nor those state laws. My friend BLL can probable ad some legal perspectives and processes under the law.
It sounds as if the property is either deeded under an executor (Trustee) for an estate or the property is owned by a trust? These are almost the same thing but the difference being whether it’s being probated, has a family living trust with a living will or has been attached as property of a permanent trust?
If this “Deceased’s Son” is not the only Heir then certain legalities will occur based on DC laws, and what the instruction dictate in the documents of the deceased.
Good luck,
GR
Personally, I would do some research to find the will and see if the son has the authority to sell the property as an Executor/Personal Representative. I’d also get it under contract and if you have a good Title Company, let them sort it out. Then you could just cross any obstacles as they come up. This is also a great way to learn.
Thanks for the feedback guys. I’ll just get it under contract best I can and let a good attorney sort out the legalities & details, then simply do what they tell me to do. :beer