Probate in Illinois

Can You Sell a House before Probate in Illinois?

Can You Sell a House Before Probate in Illinois?

We all know that feeling of losing a loved one. This is a very difficult situation for anyone to be a part of. Trust me, we sympathize with you. If this person passes away unexpectedly, you may be left wondering what to do with their property. Probate in Illinois is the last thing you want to think about. Likewise, probate in Chicago can be tricky. 

You have most likely found out that a property must go into probate in Illinois in this type of situation. But, who wants to go through all the legal hoops? Is there a way to avoid it? The short answer is, most likely not, but there is a little bit of wiggle room that may allow you a way to skip probate.

Living Trusts

If the person who passed away put their home in Illinois into a living trust, this would automatically avoid probate. This is the easiest way to avoid it because technically the trust owns the home now. But, if the person who passed away put their will into a testamentary trust at their death, then that opens another bag of issues.

Testamentary Trusts

When someone puts their home into a testamentary trust, they usually will have an executor listed as well as a trustee for the trust. The executor must follow the wishes of the deceased and transfer ownership to the trustee. Now, here is the loophole, if you are the executor and the trustee, then you can sell the property on your own, and you do not have to go to court. But, if the executor and the trustee are different people, a judge will be needed in [target_state].

Jointly Held Real Estate

If the property is held by joint tenants, with the right of survivorship, this can bypass probate in Illinois. This means that if you are the executor, you would have no involvement with the house at all. The ownership of the home would be passed to the surviving owner. So, if a husband passed away and his wife and kids were living in the home, the home wouldn’t need to go to probate because the wife would just take control and become the sole owner of the home.

Independent Administration of Estates Act

There is a chance that the Independent Administration of Estates Act will help you avoid probate in Illinois as well. There is a certain situation where you can get away with not going to court for probate. This situation usually involves having a buyer who will pay over 90% of the value of the home. This has to be approved by the court, but you would avoid the whole probate process.

Now, this may sound like a lot to swallow. Fortunately, we buy houses in any condition, and we can help you avoid the bouts that come with selling a home in probate in Illinois. We will buy your house for cash in just days. Fill out the form or call us at 312-764-0989 today to get your cash offer.

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