E324 Top 5 Reasons Heirs Suddenly Need to Sell Probate Real Estate

<p>Why do heirs suddenly need to sell probate real estate? We see cases where years, even generations, have elapsed since the real estate owner has died, and nothing has been done. So why, all of a sudden, do the heirs seek a lawyer or professional executor? Here are the top 5 reasons we’ve seen.</p> <h2>1. Bad economies mean heirs need money</h2> <p><img class="aligncenter size-medium wp-image-44119" src= "https://anthonyspark.com/wp-content/uploads/2023/06/Bad-economies-mean-heirs-need-money-300x169.jpg" alt="Bad economies mean heirs need money" width="300" height= "169" /></p> <p>When there’s a recession, our office gets busier. It seems that when times are tough, <a href= "https://anthonyspark.com/e305-get-your-inheritance-faster/">people want large, lump sums of cash</a> (rather than a theoretical portion of an estate).</p> <p>It’s a bit counter-intuitive, since real estate prices are often down at these times and heirs would have to sell low. The heirs figure that even though the sale price is lower than in a strong economy, at least they’ll get some cash.</p> <h2>2. More deaths means more complications</h2> <p><img class="aligncenter size-medium wp-image-44120" src= "https://anthonyspark.com/wp-content/uploads/2023/06/More-deaths-getting-complicated-300x169.jpg" alt="More deaths, getting complicated" width="300" height= "169" /></p> <p>As more and more family members pass, heirs see <a href= "https://anthonyspark.com/e265-late-probate-40-years-after-death/">how increasingly complicated probate will be</a>.</p> <p>For example, mom died and left the house and 4 kids who all get along. The 4 kids don’t probate, but agree amongst themselves who will perform upkeep, who will collect rent, and how the rent will be divided. But then the kid in charge of upkeep dies and now no one is officially in charge of upkeep. Then the one in charge of making sure there is a tenant also dies, so his kids move in. Now there is tension among the family members who don’t all agree with the arrangement. You may not think your fam