Inheriting a house. It is the legacy that someone chooses to leave to behind to those they love and care for the most. Some people can leave trust funds, while others barely have pennies to give after they are gone.
In the United States, the median inheritance is $69,000. Sometimes, part of that inheritance comes in the form of property.
However, some people may die suddenly or younger than they expected. As a result, they may not have written a will before they died.
If you want to sell inherited property without a will, you may not know the best way to go about it.
No worries. This guide breaks down the process and your best options.
Understanding the Process: Inheriting a House Without a Will in California
If someone dies without a will in California, that means that their possessions will be distributed to that person’s closest surviving heirs. If you are reading this as someone who inherited property without a will, then congratulations, you are the next of kin.
Usually, this means that a spouse has the first claim to the property. If there is no surviving spouse, then any children of the deceased may get awarded the property.
If there are no children, it can go to the person’s parents, then their siblings, then their nieces or nephews, etc. The point is that the state of California will assume that the property is going to go to the closest living relative.
Probate Laws in Southern California When There’s No Will
Before you can sell an inherited property in Southern California, you are likely going to have to take it through the probate process. For those of you who are unfamiliar with this, it is a legal process that proves that someone has the legal right to assets in an estate.
This process is usually a lot simpler when there is a will to go off of. However, you can still go through this process without a will.
Part of this process is figuring out who the beneficiaries are. This would be the next of kin as described above.
Once there is proof that a certain heir is the rightful owner of the property, then the rest of the process can begin.
There are two major factors that come into play for this timeline. The first is how much the property is worth. If it is worth less than $166,250, then you can have a simplified procedure.
The other factor is if the property has any other surviving owners. This is more likely with commercial property.
If there are surviving owners, then they could get the right to buy out your loved one’s share first. If there are no other surviving owners, that can help speed up the probate process.
Something else you should know is that probate tends to be when creditors go after the deceased for any outstanding debts. That means that if they make a claim in a certain amount of time, they may try to use the value of the estate to get those debts paid.
How to Sell an Inherited California Property Without a Will
The process here is simpler than you might think. First off, you should wait until the property goes through the probate process described above. In certain situations, you may not even be able to sell the property until that process has concluded.
Then, you need to discuss what you want to do with the property with any other surviving heirs. An example can be if multiple siblings have a claim to the property and there is a dispute on what to do with it.
Also, you should make sure that the maintenance fees are being kept up with. This will make it easier to sell your home and it will keep your utilities working while you are trying to sell the home and empty out the home. Why Selling to a Local Cash Home Buyer Can Simplify the Process
So, you have finally reached the stage where it is time to sell the home. You may be considering the best way to go about selling your home.
Well, what if we were to tell you that you should find a cash buyer for your home?
One of the biggest benefits is that you can shorten the sales process significantly. You do not have to wait for any lenders and there is usually a shorter negotiation process with these buyers.
On top of this, you may have inherited a house with a lot of maintenance issues that you do not want to spend the time or the money to fix. In this situation, a cash buyer is perfect because they are the most likely buyers to buy a house as-is.
That means that you can wipe your hands clean of the property and walk out with a good payday without having to do any significant work on the home.
Sell Your Inherited Property Easy And Fast
Navigating the nuances of inheriting a house without a will can be daunting. The state of California will spare no effort in determining the rightful next of kin and ensuring there are no outstanding debts tied to the property.
While this process can be stressful and time-consuming, remember you’re not alone. There’s an effortless alternative that can alleviate your burden and bring a swift resolution – selling your inherited property to a reputable cash home buyer.
Here’s where Premier Property Buyers steps in. We specialize in providing quick, easy, and fair cash offers for inherited homes in Southern California, even if there’s no will. We aim to streamline your selling process, eliminating the complexities and uncertainties often associated with traditional real estate transactions.
We understand that selling an inherited home is not just a financial decision, but an emotional one too. Our team is committed to providing support, understanding, and guidance every step of the way. Whether you choose to sell or keep the property, we want to ensure you have all the information and resources you need to make an informed decision.
Don’t allow the inheritance process to become a prolonged ordeal. Connect with us today and explore how selling your inherited property for cash could be your ideal solution. Simply give us a call to receive a no-obligation cash offer on your home.
