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Updated over 8 years ago on . Most recent reply

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Temi Dada
  • Washington, DC
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Buying Probate Properties

Temi Dada
  • Washington, DC
Posted

When submitting a purchase contract for a probate property, should the Seller name in the purchase contract either be the decedent's name or the executor of the estate's name?

I'm very green at this and I am in the process of submitting an offer on my 1st probate deal so forgive my innocence if this question sound very mundane. Thanks for your replies.

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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
Replied

You need to ask to see the documentation that enables your seller to pass marketable title.

An an informal (summary) probate, you would entitle the seller as Mary Smith, personal representative of the estate of William Smith, deceased.

If a formal probate, they will vest as "Mary Smith, Administrator of the estate of William Smith, deceased."

If pursuant a will admitted to probate, "Mary Smith, Executor of the estate of William Smith, deceased."

If you haven't purchased my course or one by someone else, you ought to at least make a trip to probate court to review the seller's probate file. 

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