Thursday, December 17, 2020

Probate and Real Estate - Types of Probate in Texas

 


Texas has various types of probate procedures. The procedure used will be determined by whether the decedent had a will, the size of the estate, and the type of property involved. Knowing how your particular situation will be probated can help you set expectations and determine how and when to deal with any real estate involved. 


Probate procedures include:

Administration with will annexed - Used when the named executor is no longer capable to serve as executor or the will have not named an executor 

Small Estate - Could be available when the value of the probate estate is less than $75,000, excluding the value of homestead and other exempt property. Other qualifications apply.  

Dependent administration - The executor or administrator will be appointed and supervised by the courts. Many actions and transactions will require court approval before finalizing. 

Proceeding to determine heirship - Court proceeding used to determine heirs when a decedent passes without a will. 

Independent Administration - Mostly simple process requiring little court supervision.

Administration with dependent executor - Often used when creditors are many and asset few, when a will is being contested, or the will have not specified independent administration

Muniment of title - Can be used when there is a will and no debts other than those secured by a lien on real estate. 


The above information is in no way legal or financial advice and should be used only as a reference to help understand the probate process and how it relates to Real Estate. If you are in need of legal or financial advice about probate I encourage you to seek a licensed lawyer or accountant who specializes in probate.  


Other Real Estate and Probate Information Real Estate Probate Information

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PSA (Pricing Strategy Advisor),  CPRES (Certified Probate Real Estate Specialist)

Texas Real Estate Commission Information About Brokerage Services

Texas Real Estate Commission Consumer Protection Notice

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