The home changes hands. It could pass to a surviving spouse or child whose name is on the deed, or be bequeathed to the family as part of the homeowner’s estate. Often times, the family simply wants to sell the property.
- Talk to the Executor: The deceased homeowner’s will should name an executor. Only that person can make financial decisions for the estate, including setting the asking price.
- If No Will….if the homeowner died without a will, the estate may go to probate court. The purpose of court involvement is to protect the rights of the family, those entitle to receive property, and the creditors of the deceased person’s estate, according to the Texas Bar Association. State law governs who inherits what if the estate has no will.
- Bill to Pay?….The estate is required to pay outstanding debts. The executor must make sure the estate has enough money to cover them. Texas is one of nine community property states, meaning relatives may be required to pay off the deceased person’s debt. One will want to make sure there is nothing preventing the sale of the property.
It is stressful to handle the paperwork and make decisions while mourning. Always be understanding and sympathetic.
~ Cheri Sperling, Owner Coastline Properties
