Property and Probate – Your Local Probate Lawyers’ Guide

If you have been appointed an executor of a will, or you are handling the affairs of someone who has died intestate without leaving a will, then you will often have to deal with the sale of a property that belonged to the deceased. This can be a complex process, but don’t worry because your local probate lawyers, Holdens Law, are here to help every step of the way, with expert advice whatever your circumstances.

Establishing ownership of a probate house

The first thing that an executor needs to find out is how a probate property was owned. As your local probate lawyers, Holdens Law can help you to establish the exact details. The property may have been owned outright by the deceased, owned on a mortgage, or owned with someone else, either as joint owners or tenants in common.

If the property is owned with a mortgage, then we will deal with the lender on your behalf, informing them of the situation. As your legal representatives, we know the appropriate ways to approach lenders to arrange for a brief pause in repayments until the estate is settled. This avoids you having to cover these costs yourself in the interim.

If the property is jointly owned as joint tenants, then it automatically passes to the joint owner, often a spouse or civil partner. If this is the case, then you may not need to apply for probate, but you can still ask your local probate lawyers at Holdens Law to arrange to have the names changed on the deeds. 

If the property is owned as tenants in common, then the deceased’s share becomes part of their estate. Since the other owner retains ownership of their share, this can create a complicated situation, and the expert advice and guidance of your local probate lawyer can be invaluable in these circumstances.

Taking care of a probate house

When a probate property forms part of the estate, as an executor, you will be responsible for taking care of it until probate has been granted and the house can be sold. This includes making sure the property is insured (and letting the insurers know if it is vacant), as well as maintaining it in good order and keeping it secure.

As your local probate lawyers, Holdens can advise you on your legal obligations and even handle the paperwork on your behalf if you do not feel up to it. 

Selling a probate house

Even if ownership has been clearly established, you will not be able to sell the property until probate or letters of administration has been granted. However, that doesn’t mean you can’t start the selling process. Working with our local conveyancing solicitors at Holdens Law, the probate team can help you to get the sale started, and we can progress it as far as exchange of contracts in many cases, so that you can complete the sale as soon as probate is granted, or letters of administration are issued.

Financial implications of selling a probate house

In some cases, the fact that a property or share of a property is part of an estate may take the estate over the inheritance tax limit, and you will need to declare this and pay the appropriate taxes. 

It is important to note that inheritance tax is usually due at the end of the month six months after the date of the death or interest will be added, even if you have not sold the property. In some cases it might be possible to pay by annual instalments. This is why it is essential for executors to get expert advice from their local probate lawyers at Holdens Law as soon as possible. Our professional team will work with you to make the process as smooth and swift as possible, in order to avoid having to find these taxes out of your own pocket and claim them back later.

Whether you are inheriting your parents’ house, or acting as executor for a friend or relative, dealing with a probate property can be complicated, and can often feel overwhelming at what is already a difficult time for you. That’s why it is good to know that the dedicated team at Holdens Law, your local probate solicitors, are here to support you, not only with expert advice and guidance, but also sympathy and support.

To find out more, contact Holdens Law on 01524 32484 for our Lancaster offices or 01539 720629 for our Kendal team.