The death of a loved one can be a difficult time for you and your family. However, after the funeral, you may have to deal with the reading of the wills or passing on the deceased’s assets to their surviving family members. The sooner you can get these done, the sooner you and your family can move on and heal from your loss.
However, probate law in Oceanside may have a couple of roadblocks that can delay the process of splitting up the deceased’s real estate property. Don’t panic – here are some tips that can help you and your family during the process so you understand what’s happening and how you can resolve the issue as soon as possible.
What Is Probate and Why Is the House in Oceanside in Probate?
Probate court takes place whenever a person dies and leaves valuable assets behind. This isn’t limited to real estate property, but also any other assets they may have owned before their death. The court will take your loved one’s assets and see if there were any debts that need to be settled. If there isn’t, the property will be turned over to the surviving family members based on either what the deceased’s will entails or through an executor who distributes assets accordingly.
Probate laws in Oceanside only cover assets where the ownership solely belonged to the deceased’s family member. If they have a surviving spouse who co-owned their marital home, for example, this wouldn’t be included in probate as the surviving spouse is now the owner. There are many exceptions like these, which is why the process can take time if there are plenty of assets involved, including the house in Oceanside.
What Can I Do with the House?
Assuming your loved one didn’t share ownership of the Oceanside home with anyone else, it will probably go through probate. If they had debts, the property may be liquidated to cover the debts before the rest of the proceeds are distributed among the deceased’s heirs. In this case, there’s really not much you can do with the property.
In case there are no debts, the house can be bequeathed depending on what the will states. If the will states that you’re the sole owner of the Oceanside house, you should have free reins to do what you want with the home once the title has been officially passed on to you. However, if you have a co-inheritor like one or more siblings, you will have to negotiate with them on what can be done to the property.
And if your loved one didn’t leave a will, the Oceanside house will be distributed based on California’s inheritance laws. This really depends on factors like your relationship to the deceased and the number of assets distributed, so it’s best to consult with your lawyer about your available options.
Sell to a Professional Home Buyer!
In all the different outcomes that can happen after probate, there are many instances where you can benefit from working with a professional home buyer and selling the house in Oceanside fast. One instance is if you’ve become the sole inheritor of the property and want a fast and easy way to sell, your best option is to sell directly to a cash home buyer. Another example is if multiple people have a claim to the property and it’s agreed that selling the house and splitting the proceeds is in everyone’s best interests.
At Ignite Property Solutions, we buy houses in Oceanside, CA through our fast, easy, and convenient home buying solutions. Compared to listing on the California real estate market – which can take time and resources to sell – you can receive a fair cash offer within 72 days after your scheduled property viewing. We then provide you with a fair cash offer that you can choose to accept. If you do, we can close the deal in as little as 14 days.
With that quick turnaround time, you can get rid of the house as soon as possible and use the money based on how you or your co-inheritors see fit. This gives you the freedom to move on from your loved one’s death and look forward to the future.
Contact Ignite Property Solutions for More Information
Times like these can be emotionally-charged for everyone. But with a cash home buyer you can trust, you can speed up the process of dealing with inherited properties and let everyone move on as soon as possible. Let Ignite Property Solutions help you through your family’s difficult times.
Contact us today to schedule your property viewing to receive a fair cash offer on the Oceanside property.
