If an individual inherits a house in the Houston area and has decided that keeping the house is not a feasible option, due to the extra responsibility, the poor condition of the house, the location or that he simply wants to get cash out of the house – he can sell it. However, even though he has received the house through an inheritance, if he wants to sell the house in Houston, then he will have to go through the probate process.
Working with a probate court is a necessary part of the house inheritance process because probate is the means in which estate assets are transferred after an individual’s death. If a person inherits a house in Houston and tries to sell it without going through the probate process, then he may come across title issues.
In most cases, the probate process is mandatory when it comes to selling an inherited house. However, there are three ways in which one can sell an inherited house, without going through the probate process – they are as follows and we will explain them in more detail below:
A Joint Tenancy and Tenancy by the Entirety allows property or assets to pass to a person, or persons, of the owner’s choice. This occurs upon the owner’s death and does not involve the probate process.
A Beneficiary Designation allows a person to transfer assets only upon the owner’s death without the owner giving up his ownership of the property while he is alive.
The Revocable Living Trust allows an owner to establish a “hold” on a legal title to assets and designate who will have control over the assets after the owner’s passing.
Other than the three instances listed above, it is mandatory that one must go through the probate process in order to sell a house that has been inherited in Houston.
If you need help selling an inherited house, or for more information on the probate process – contact Senna House Buyers today!