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When Can I Sell My Inherited House?

When Can I Sell My Inherited House?
Speaker 1:
Good morning. It’s Friday morning. It’s once again time for Fan Mail Friday.

The question we have from our seller this week is, “When can I sell my inherited house?”
That’s a good question. If you inherit a house and it’s in a trust, and you and the heirs are successor beneficiaries, then it’s just a matter of getting the property re- deeded and then once it’s re- deeded, you can then sell the property. Piece of cake. Doesn’t have to go through probate.

If it’s not in a trust and you have a will, then it’s going to have to go through probate. Once you’ve been appointed as personal representative, then at that point, you have the power to sell the property. If the will has not been proved yet, or it’s contested, then you must get the court’s permission to sell the property, and the proceeds will have to be put into the court registry. If the will has been proved, then when you sell the property it’s just a matter of paying off any creditors and then dispersing the proceeds, according to the terms of the will.

Now keep in mind that if this house has a reverse mortgage on it, that you have a limited amount of time to pay off that reverse mortgage. The time will be specified in the note in the mortgage for that reverse mortgage.

But, if you have an inherited house and you don’t want to spend the time, the money or the hassle getting that house ready to sell, or you don’t want to wait for an agent to sell it, then give us a call at (352) 480-0955. Or go to our website and we’ll see you next Friday, here on Fan Mail Friday. See you then.
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