Oklahoma Probate Process | Selling your Inherited Property

 Selling Your Inherited Property

A deceased person’s property, including real estate, is distributed through the legal process known as probate.

The Oklahoma Probate process typically involves the following steps:

1. Filing a petition is step one in the processing of a the deceased’s will. Normally, a relative of the deceased files the petition with the county court in which the decedent was residing at the time of death. A personal representative is the known filer of the petition. A motion submitted in the minutes requests the court to initiate the proceedings of the Oklahoma Probate and appoint an executor or administrator to dispose of the estate.
2. One of the courts requirements is proper notice. A timely notice of the estate to all decedents and known heirs and parties to the suit is a requirement. The legal counsel of the administrator is typically the ones who give notice. This legal notice gives any interested parties enough legal time to file suit against the estate or appeal any decisions made by the administrators.
3. The personal representative of the estate makes a list of the deceased person`s assets including but not limited to jewelry, cash, or personal property like real estate, and have it valued.
4. Debt and tax repayment: Using the estate’s assets, the executor or administrator must settle the deceased’s debts and taxes. To raise the required money, this may entail selling assets like real estate.
5. Distribution of property: Following the payment of all debts and taxes, the executor or administrator distributes the remaining assets in accordance with the terms of the will. This includes any subsequent title transfer to the appropriate beneficiaries following any use of the property.
6. The executor or administrator presents a final account to the court outlining the actions taken during probate after all assets have been distributed, also called closing the estate.  There is clear title at the end of the process in order for the administrator to legally sell the property.

When buying, selling, or refinancing a property, it’s critical to have a clear title. A clear title it guarantees there are no encumbrances, disputes, or claims against the property. A clear chain of title established by probate helps avert further disputes and complications. Thus allowing your buyers to obtain title insurance. Lastly, a good Oklahoma lawyer helps you navigate the Oklahoma Probate process efficiently, thus ensuring a completed probate.

An Oklahoma Probate filed petition in Oklahoma County, OK. We pay for all probates!

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