What is Probate?
Taking out probate means having the Probate Office or the appropriate District Probate Registry certify that:
- The will is valid
- All legal, financial and tax matters are in order
Wills only take effect when the Probate Office accepts that the will is valid. The will is said to have been ‘proved’. The Probate Office may make some enquiries before making its decision, for example, it may require a sworn affidavit from one or both of the witnesses. I would strongly recommend that you ensure any property left in the will is fully insured. this again can be done through your solicitor and a legal representative.
How does probate affect me when selling a property?
When a property that is part of a deceased person’s estate is to be sold, an application must be made to the Probate Office for a Grant of Probate (or another type of Grant depending on the situation). The sale of the property cannot be completed until the Grant has been issued by the Probate Office.
Can I put a Property On the market while the Probate Application is being dealt with?
The property can go on the market while the Probate application is being processed. Once a sale is agreed upon, the Solicitor can provide a Contract for Sale containing a special condition. This condition states that the Sale is contingent upon Probate approval and that the closing date will occur after the Grant is issued from the Probate office. Typically, the contract specifies the duration between the Grant issuance and the closing date, often set at 7-10 days. During this period, the Solicitor representing the buyer can review the Contract for Sale and property title, addressing any concerns they may have while awaiting the Grant.
All necessary arrangements can be managed while awaiting the Grant, ensuring that the sale can be promptly finalised once the Grant is issued.
Buying a property subject to Probate
When buying a property tied to a Grant of Probate, it’s crucial to inquire with the Vendor’s Solicitor about the Probate Office application status and its submission date. Once submitted, the Grant typically arrives within 12 weeks (This may vary depending on backlog). The Probate Office also updates the current application dates they’re processing, aiding in estimating the closing date. If the application hasn’t been submitted, inquire with the Vendor’s Solicitor about their submission timeline. Some Probate cases are intricate and may take substantial time to finalise, so understanding the application’s stage is vital. Delay may occur if the application hasn’t reached the Probate Office, affecting the transaction’s conclusion. For those securing a loan to buy the property, it’s important to note the loan offer’s expiry date to avoid expiration before the anticipated closing date.
If there is no will
The person who deals with the deceased person’s estate is called an ‘administrator’. An administrator may also be appointed if:
- There is a will but no executor has been appointed
- The appointed person cannot act as executor
- The executor cannot or will not carry out their duties
The administrator needs to take out a Letter of Administration (or a Letter of Administration with Will Annexed if there is a will).
Usually, the next of kin applies for a grant of administration. Priority is given in the following order:
- Spouse or civil partner
- Child
- Parent
- Brother or sister
- More distant relative
The Probate Registrar will make a decision if there is doubt about who is entitled to be the administrator. The administrator must give an administration bond to the Probate Office – this is a sort of guarantee that you will carry out your duties properly.
The duties of the executor and administrator are broadly the same. If you are not sure about these roles, you should get legal advice from a solicitor. Usually, an asset worth less than €25,000 will not be subject to Probate. However, you will need to check directly with the financial institution holding the assets. If its under €25,000 the asset can be dealt with under the small estates procedure instead. Its worth noting that its not always obvious what an estate is worth. At MRE we would advise for all property in an estate to be valued by a licenced valuer. This is something Midlands Real Estate can help you with. Click here for more.
Do I need a solicitor?
You dont need a solicitor to act on your behalf when submitting an application. However, we would strongly advise all clients to seek legal representation.
A solicitor can complete the forms that are needed and give you advice on:
- The law on succession
- Taxes that might have to be paid by beneficiaries
- Debts that may have to be paid from the estate
- The deceased’s will and can help settle disputes
- Finding out what the deceased person owned
What documents do i need to prepare as a selling of a probate estate?
The following is a quick guide as to the paperwork needed for the application for the Grant of Probate with the courts:
- The Will of the deceased
- Names and addresses of all the beneficiaries to the estate.
- Death Certificate
- A valuation of the property at the time of the deceased’s death.
- The deceased persons details, PPSN, date of birth, martial status.
- Details of any known debts held by the deceased.
- Title deeds of the deceased persons estate.
Practical Steps When Dealing with a Deceased Person’s Property.
- Disable all utilities, such as mains water, electricity, gas, and telephone connections.
- Safely remove any valuable items from the property.
- Assess the security measures and consider installing additional locks, window locks, or property alarm systems for added safety.
- Notify the insurance company associated with the property about the situation.
- Inform the local Garda station or relevant authorities to provide notification of the situation concerning the property.
- Secure the Property: Ensure the property is adequately secured by boarding up windows or any potential entry points to prevent unauthorized access.
- Notify Relevant Parties: Inform neighbors or the neighborhood watch, if applicable, to keep an eye on the property and report any suspicious activities.
- Regular Inspections: Arrange periodic inspections or visits to the property to check for maintenance issues, leaks, or any signs of deterioration that might require attention.
- Redirect Mail: Redirect the deceased person’s mail to a designated address to manage incoming correspondence and prevent buildup in the property’s mailbox.
- Set Up Maintenance Services: Arrange for essential maintenance services such as lawn care, snow removal (if applicable), or general upkeep to preserve the property’s appearance and prevent neglect.
- Consider Financial Obligations: Continue to pay necessary property-related bills, such as property taxes, insurance premiums, and mortgage payments, to avoid any issues or penalties.
- Consult Legal Advice: Seek guidance from a legal professional experienced in probate and property matters to understand the specific legal obligations and procedures associated with managing the deceased person’s property.
Adhering to these additional steps can help ensure the proper maintenance, security, and compliance necessary when handling a deceased person’s property during the probate process. At Midlands Real Estate, we understand the sensitive nature of handling properties involved in probate. Our dedicated team can provide valuations and facilitate the sale of probate properties. Midlands Real Estate is committed to offering professional guidance and seamless transactions, ensuring peace of mind for executors, beneficiaries, and those involved in probate property transactions.
Should you require assistance in valuing or selling a property tied to probate, Midlands Real Estate is here to support you every step of the way.
Contact us today to discover how we can assist you in navigating the probate property process with expertise and care.
