The document discusses the probate process for selling real estate on Long Island, NY. It involves appointing an executor through the probate court, validating any will, inventorying and appraising the estate's assets, selling the property at or above 90% of its appraised value, paying debts and taxes, distributing remaining assets to heirs, and closing out the estate. Hiring a specialist like Rene Perrin can help navigate the complex probate procedures and formalities to sell the property as efficiently as possible.

1. Long Island NY Real Estate Probate

2. Probate is the legal process through which a deceased person’s estate
pays debts and distributes assets to their heirs.

3. Properties that are under a name of a deceased owner can’t be sold
until an executor has been duly appointed by the probate court.

4. You will need a specialist who can help you because a probate sale
includes a number of procedures and formalities with which ordinary
real estate agents are generally unfamiliar.

5. The probate process begins by filing the original Will and a probate
petition with the court. The court will issue a decree granting probate
when all concerns are addressed and once jurisdiction is complete.

6. The court will also issue Letters Testamentary to the Executor or
Executor as named in the Will. This document will give the Executor
the authority to administer the estate.

7. The Executor will be responsible for identifying and inventorying the
decedent’s property. He or she should also follow all terms stated in
the Will.

8. Appointment of an
executor of the estate.
This includes the names
of the executor or
administrator of the
estate. Without a will,
often the spouse or an
adult child of the
decedent must ask the
court to appoint him or
her as administrator of
the estate.

9. Proving the validity of
the will
The next step is for the
court to verify if the will
is valid. You’ll need at
least two witnesses who
must sign in the
presence of the other.

10. Inventory of assets
The deceased’s assets
must be identified and
an inventory should be
made before its
distribution.
Appraisal of property
is needed to determine
the cash value of the
estate’s non-cash assets
including real estate,
artwork, or jewelry.

11. Sale of the property
Your home will be listed on multiple listing services and marketed.
The property must sell for at least 90% of the appraised value.

12. Payment of estate debts
The estate pays any debts or taxes owed. Sometimes, the executor
may need to sell assets from the estate to settle the debts and
expenses.

13. Estate accounting
The executor should
prepare and file an
estate accounting with
the court.
Distribution of assets
The next step is the
distribution of assets to
heirs. Without a will,
the distribution follows
the state law.

14. Closing the estate
After the distribution of assets, it is the duty of the executor to file any
remaining paperwork with the court. This will release the executor
from his duties and officially close the estate.

15. If you need help selling real property through probate, call me,
René Perrin at 516-802-3785.

16. René Perrin
Call me...
516-802-3785
Probate is a complicated, lengthy, and expensive
process. But, with my expertise as an
experienced Long Island real estate probate
agent, I can help you do it as quickly as possible.
LongIslandProbate.com