Selling Property Owned by A Deceased Person
If you’ve experienced a loss and want to know how to sell the deceased person’s property, it’s advisable to speak with a lawyer or conveyancer to ensure the process is smooth and simple. A professional property conveyancer, available at Ownit Conveyancing, can help you navigate the paperwork required to act as a representative of the deceased person’s estate. This will be given either as a grant of Probate or as Letters of Administration.
If you wish to purchase a property being sold on behalf of a deceased person, you must verify the representative has the legal power to sell the property.
What Is the Difference Between Probate and Letters Of Administration?
If the deceased person had a valid will, the Supreme Court would grant Probate confirming the will is valid allowing the executor to act on the deceased person’s behalf. This includes the sale of property and land, settlement of debts, and dealing with other financial matters concerning the estate.
In cases where there is no will, Letters of Administration grant that authority to a family member or another interested party.
What Makes the Sale of a Deceased Person’s Property Different to Other Sales?
The title must show that you are legally empowered to place the property on the market, have it valued, and enter negotiations with a potential buyer. The vital difference is that at the time of the sale, proceeds will remain a part of the estate. These funds will be used to cover any debts owed by the deceased, and the remaining monies will be distributed amongst the named beneficiaries in the will.
Call Ownit for Guidance as You Navigate the Sale
Ownit is a dedicated conveyancing service, available at a very competitive price, ensuring we can help more people than ever before to navigate the complexities of selling property on behalf of a deceased person. We offer expert advice while treating all clients with great respect and consideration.
We are here to help you apply for a Probate grant, or Letters of Administration. We are also here to facilitate communication between the executor of the estate and potential buyers. Our goal is to turn a complex process into a smooth and satisfying result for our clients. Our expert conveyancers in QLD can also help assist in the distribution of funds from the sale, if necessary, especially in cases where debts are outstanding or other beneficiaries of the proceeds.
If you require any assistance with the proper process for selling a deceased person’s property, call Ownit Conveyancing for professional advice from industry specialists today on 1300 553 750.
