Probate:
Probate is the process that transfers legal title of property from the estate of the person who has died.
Probate is the process which transfers the title of the property of the deceased to his heirs or to his beneficiaries.
If you succeed to a property by way of will or if you are a legal heir to the deceased person, then by the process of probate it is necessary to get a legal title of the deceased property.
Advantages of Probate:
- Probate helps to get a legal title to the property, which means you get the right to sell the property or let lease etc.
- Probate provides the collection of any taxes due by the deceased person.
- Probate helps to settle the outstanding debts and claims to the creditors and taxes arising out of the property which is due by the deceased.
What is the procedure of Probate in case of an uncontested will?
The Executor of the Will usually consults a probate attorney where he files a petition for probate of the estate. In case of uncontested Will, the attorney notifies the persons who will be entitled to the estate of the deceased assuming he dies without the Will, and the attorney includes those persons in the petition, giving them an opportunity for filing the objections.
If no objections are filed, the court shall appoint the executor of the Will,
- to settle all claims, debts, taxes of the deceased
- to submit the reports showing the deceased property is accounted for and properly distributed as per the terms and conditions of the Will
How is Probate handled?
The jurisdiction to file the probate petition is the place where the deceased permanently resided at the time of his death.
How long the probate proceedings take?
The time taken by the court to complete the probate proceedings depends on the case. If there is no objection as to the validity of the will, the court shall pass orders within a short period. If there is any Will contest or if there is objections as to the actions of the executor, it will take time for the court to decide the case.
Next: Real Estate Law
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