Catherine Baines
Residential Conveyancing Solicitor
Phone: 0113 200 7480
Email: property@averywalters.com
Residential Conveyancing Leeds - Probate Sales And Transfers
What is probate?
The term ‘Probate’ is the term given to the process of dealing with the estate of someone who has passed away. This generally means the clearing of any debts they left when they died and distributing their assets in accordance with their will.
Contact our licensed probate lawyers by calling our Leeds law firm on 0113 200 7480 or Harrogate law firm on 01423 564 551. Our probate solicitors are ready to help you complete a probate house sale or transfer.
Selling a house in probate
When selling a house in probate, the executor has the right to register a probate property with an estate agent to sell, however the executor does not have power to sell the property until a Grant of Probate has been received. We advise that if you are in this position, you should notify your estate agents of the up to date position, and ensure they remain in the loop. The estate agent may need to inform a buyer of your circumstances and advise the probate house sale process may take longer than a standard property sale.
When it comes to selling a house in probate, the executor has an obligation to accept the highest offer received for the property. The executor will need to discuss all matters with a Conveyancing Solicitor and also a Probate Solicitor before accepting any offer. As well as the sale price, executors need to consider the buyer's circumstances and whether they have a property to sell (and whether they have a buyer lined up or not). If they don’t this could delay the Probate sale - much like a normal sale of a property.
Another area that should be considered when selling a house in probate is Capital Gains Tax. If the property value has increased since the date of death value this could incur Capital Gains Tax. Our conveyancing and probate solicitors can provide advice in relation to this.
Once the Grant of Probate has been received, the executor is free to accept an offer, exchange and complete a probate house sale. The sale process should be straightforward from this point. Once the sale has completed the sale proceeds will usually be transferred to the Probate Solicitors to be administered and distributed in accordance with the will of the deceased party.
The valuation of a probate property?
As part of the Grant of Probate application process, the executor should acquire 2 or 3 valuations of the property and take an average as a value.
The title deeds of a probate property
When selling a probate property, it is important to instruct your probate solicitor and conveyancing Solicitor as soon as possible. Avery Walters are available to act on both your probate and conveyancing matters.
Avery Walter’s conveyancing solicitors will require the address of the property to check if the property is registered at the Land Registry correctly. If the property is registered our Leeds conveyancing solicitors will be able to obtain a copy of the registered title. There is no requirement to provide original deeds if our searches find the property is registered correctly.
If the property is not registered, the executor is responsible for obtaining the title deeds to the property and providing them to our team of conveyancing and probate solicitors. Title deeds may be at the deceased’s property address, at the bank, accountant, or with a family member.
It is critical that the property deeds are received as soon as possible. Once received, our team of conveyancing solicitors will check the content of the deeds pack to ensure all deeds are present and correct. If any portion of the deeds are missing, our team will advise you on what is missing. .
If all the deeds are in order, but a buyer has not been found, we may advise you to submit a voluntary first registration application to the Land Registry.
Transferring a probate property
If the property is owned in the sole name of the deceased party and the property title is registered at the Land Registry correctly, then the transfer process is relatively straightforward. The executor will need to transfer the property to the person who is entitled to inherit under the terms of the will (if one has been made) or under inheritance laws (if there isn't a will available).
If the property is to be transferred to a beneficiary, the executor will need to submit a document called an 'Assent' to the Land Registry (along with a copy of the Grant of Representation). Once they have these documents, the Land Registry will transfer the property into the name of the new owner.
Avery Walters’ probate lawyers
If you are looking to complete on a probate sale or transfer, Avery Walters probate lawyers offer services to help you complete the wishes of a deceased loved one. Call us today for a free initial consultation with our experienced team of conveyancing and probate solicitors to help with your probate property next steps.
Our team of probate solicitors can be contacted by calling our Leeds probate lawyers team on 0113 200 7480 or our Harrogate probate solicitors team on 01423 564 551.
* Laura Stafford is the SFE accredited member