Posted by : Long H. Duong, Esq. on November 4, 2007
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I’m surprised at the number of requests I’ve been getting lately for “rush order” probates.
Lately, it’s been for clients who are trying to refinance on the house mom or dad left to them.
Once you “lock in” that interest rate, you’ve got X number of days to close the loan, correct? Well, if the real estate attorney, title insurance agent or title company gets to it soon enough, you might find that you need to probate the house first!
Important things to know:
- Before you go to refinance or even sell, get the probate out of the way.
- Probate judges don’t expedite probate cases just because you’re trying to get that 4.9% interest deal of the century. Nope, doesn’t matter how bad you really need the money.
- Probate in Florida, even summary administration, can take a month or two. In complicated cases, maybe even 6 months!
- Even if you’re just probating mom’s house, it’s not necessarily simple. Don’t assume it’s simple.
- Get organized. Collect the death certificates, Wills, last recorded deeds and make sure all the beneficiaries are on board.
- If there’s no Will, ALL of the beneficiaries need to be accounted for. Yes, all of them.
- If you’re trying to sell the property, make sure you’ve got probate in order before you sign any purchase/sales agreements. If you’re refinancing, make sure your mortgage broker or banker knows you may have to probate the property.
Just a few good tips to get your ducks in a row. PROBATE COMES FIRST!
Need to refinance mom’s house? Get probate out of the way! | Gainesville Attorney - Law Office of Long H. Duong, P.A. says
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Robin Hurt says
When is the actual legal moment when real property that was left to someone in a will becomes effective? At death or when the determination of homestead status is Ordered?
Long H. Duong, Esq. says
Title to real property left to heirs doesn’t legally transfer until the estate has been probated. The homestead orders, a personal representative’s deed and/or possibly a order of summary administration (whichever appropriate) would be the vehicle for transferring title. Ultimately it depends on the form of administration. Remember, a Will alone is INSTRUCTION to the personal representative and the probate court as to how to administer the willmaker’s estate.
Robin Hurt says
Once the court Order Determining Status of Real Property has been signed spelling out the lawful owners and their percentage of ownership is that the moment in time title is legally transfered? Or does the Personal Representative need to file a Personals Representatives deed first?
Susan says
So if I understand you correctly, a home cannot be sold until probate is completed correct? Again, can a contract be on a home if it is still in probate? Also, in the state of Florida, does a 100% agreement need to be made via the beneficiaries to sell the house or could one person not agreeing to sell the home keep a sale from going through. What would have to happen then?
Long H. Duong, Esq. says
@Robin
A personal representative’s deed might not be necessary. They are typically only issued in the course of formal administration.
Note that if the only substantial asset is a Florida homestead, summary administration is often a viable and less cumbersome alternative.
Contact me off list for further details (click “Free Case Review” at the top of this site.)
Long H. Duong, Esq. says
@Susan
In FORMAL probate administration, real estate is OFTEN sold during the course of probate. In SUMMARY probate administration, the property can’t be sold until Orders of Summary Administration have been secured (and the creditor period has cleared.)
If all INTERESTED parties, that is, parties that have a legal interest in the property to be sold, cannot agree, the judge may order the property to be sold. However, a personal representative does not necessarily have blanket authority to sell the property unless, perhaps, the Will directs the PR to do so.
If you’ve got an active case, you need to really talk these things over with your attorney. If not, contact me off list (click “Free Case Review” at the top of this site.)