Edmonton Probate & Trust Sales
Trust and Probate Sales in Edmonton Read More...
A trust or probate sale occurs after the owner of a property has passed. It can be a difficult and confusing process, so it’s important that families carefully consider their options when selecting a REALTOR® to help them with their sale.
A Trust sale occurs when the deceased has a written Trust. The Trust defines who is to administer the trust (the Trustee) which typically involves selling a property and distributing the proceeds to the beneficiaries. Since the Trust outlines the process and wishes of the deceased, the courts are not usually involved. The Trustee is charged with executing the terms of the trust.
The Trustee will select the REALTOR® to work with, set the pricing for the property, and approve of the preparation, marketing and sales plan. When selecting a REALTOR® to help with the Trust, be sure to check how many Trust sales the agent has done. Experience is key here, as there are many potential obstacles to navigate.
A Probate sale occurs when the owner passes and they did not have a Trust or put their property in a trust, even if they had a will. In these cases, the Probate Court attempts to understand and interpret the intentions of the deceased.
Sometimes the court requires a confirmation of the sale, especially if the wishes of the deceased are not clear or there is a dispute amongst the beneficiaries. This could involve a formal hearing at which the judge opens the process up to a second round of bidding after the initial offer has been accepted.
When the court does not need to confirm the sale, the sale proceeds more similarly to a Trust sale, with a little more involvement from the Estate's Attorney.
WHO YOU WORK WITH MATTERS
Whether the property is being sold in Trust, or as part of Probate proceedings, it’s important that you work with a REALTOR® that has the experience, network and resources to manage the transaction.
At The Movez Group, we have helped dozens of families navigate the complexities of a trust and probate sale. We understand what the family is likely going thru and are here to help. Please contact us at firstname.lastname@example.org or call 1-587-800-0680 to get started.