Questions about the selling a home in a Minnesota probate?
The law firm has experienced attorneys who know how to guide clients through selling a a home in a Minnesota probate. Click on the link if you have questions about How to Probate a Will in Minnesota.
Unlike the typical home sale process, probate law has its own rules and regulations which must be followed. There are certain preliminary considerations in every probate involving the sale of a home or other real estate.
Preliminary Considerations
The sale of real estate in a Minnesota probate may present a number of issues. The first issue is whether the deceased person (decedent) had a Will or died intestate (without a Will). If there was a Will, the personal representative of the estate should review what the decedent wants to happen. If the decedent specifically “gave” the home or other real estate to a specific person, those wishes must be followed. If the decedent did “give” the home to a specific person then it belongs to the heirs of the estate, in equal shares.
Next, the personal representative must figure out whether his or her authority to sell the property is in some way restricted by the law. For instance, if the home is classified as a “homestead” under Minnesota law, it is exempt from most creditor claims (other than property taxes, other judgments or liens, and a medical assistance lien).
Consent of the Heirs
If a parcel of real property is classified as a homestead, the personal representative may not sell the property to pay administration expenses without the written consent of interested parties. Most Wills specifically grant the personal representative to power to sell property. Also if the decedent died intestate, then Minnesota law does give the personal representative authority to sell the home. However, the money from the sale needs to be placed into an estate bank account. However, again, in the case of a homestead property, the personal representative cannot sell, mortgage or lease the property without the written consent of the surviving spouse, if any.
Order of the Probate Court
If there is a problem with the sale of a home or other real estate, it may be necessary for the personal Representative to obtain the permission of the court to sell the real estate. What does this mean? It means that the person in charge of the estate must petition the court for an order approving the sale. This means going to court, sending notice to all interested parties, and having a court hearing on the issue. The probate attorneys at the law firm have experience doing this.
Personal Representative Conflict of Interest
Finally, the personal representative should be careful about selling the home to themselves or his or her spouse, agent, attorney, or any corporation or trust in which the personal representative has a substantial beneficial interest. Any such sale is voidable, unless: (1) the Will or contract signed by the decedent expressly authorizes the transaction, or (2) the transaction is approved by the court after notice to all interested parties and a hearing, or (3) all interested parties consent to the sale after full disclosure.
Minnesota Real Estate Lawyers
Contact the Flanders Law Firm LLC today for a free initial consultation about selling homes or other real estate in Minnesota probates. The firm has years of experience dealing with all issues related to probate and selling real estate. Call today at 612-424-0398.
