Probate List-What is it?

Probate list or records are those records and files kept by a probate court. Probate list is a hard list to get a hold off since majority of the public have no idea where to find one and the list is not available on the internet. In the probate investing workbook, 31 Days to Profit in Probate Real Estate, you can find instructions on how to locate a probate list no matter what part of the country you live in. The word probate comes from Latin and means “to prove,” in this case to prove in court the authenticity of a last will and testament of someone who has died. In the absence of a will, inheritance laws have provided for the passing on of property, belongings, and assets.

Probate courts are under state jurisdiction. State probate laws have changed over the centuries. The kinds of records to be found in probate files have changed accordingly. Probate laws can vary from state to state but tend to follow certain general practices. The probate of the estate of someone who has died and has left a will is called testate. The probate of the estate of someone who has died but has not leave a will is called intestate.

Probate list can usually be found in the court records of the county where the deceased was last living. In some cases, early records have been moved to other depositories such as state archives, to allow for better security, temperature and humidity control, and more space for newer records. As storage space and available facilities change, so do the sites of probate records.

Probate list or records can give the historian invaluable information. For example, genealogists value the lists of heirs and divisees that indicate familial relationships. People researching material culture can learn much from household inventories. Historians trying to learn more about particular buildings often find useful information in real estate inventories.

Probate List- How to Find it?

A probate list can be found in two ways, manually where you would need to go thru the steps in locating a probate list for your county or download the 31 Days to Profit in Probate Real Estate, to make your life easier and follow the instructions of how to get a probate list and also how to invest in probate properties.

If you choose to do it manually below are some of the steps you would need to follow to get a probate list for your county.

Probate Research Steps

1. Determine where the deceased was living at time of death.
2. Find out where the records for that probate court jurisdiction at that time are now housed. Remember that the boundaries and names of counties might have changed. If the county (or state) has changed, then the records will be filed with the records in the county at the time of death, not under the county’s name as it is now. For instance, in Maine, parts of Lincoln County of 1760 are now parts of Kennebec, Waldo, Washington, Hancock, Androscoggin, Sagadahoc and Knox counties. Save yourself steps by using the Internet and the telephone to ask for and find the archive that you want. States and counties often have Web home pages.
3. Find the index of the probate records you want. This will be at the archive that holds the probate records. Look on-line for a Web site of the likely archive. Many archives now have Web home pages with holdings information, telephone numbers, and directions for getting there. The probate index you want might even be accessible on-line. Some indexes and abstracts are also published or are on microfilm. Archives and research libraries can help you find these.
4. If necessary, go to the archive.
5. Look in the index for the deceased’s name. This will usually be listed alphabetically by surname. Find and note the docket number. Usually the date of probate is also listed, and this is usually fairly close to the date of death.
6. Be thorough. Look also under the names of relatives of the deceased — you might be surprised to find a file full of relevant documents.
7. Make a list of files you wish to see and give these to the clerk, who will retrieve the files for you. If the files are old and are in a storage facility off-site, it might take several days for the request to be filled. This is all the more reason to make the request on-line or by telephone if you can.
8. If files are missing, and they sometimes are, probate record books might give some evidence of the probate. Probate record books are not likely to contain all the information that is/was in the actual file, however.
9. Examine the files and make notes. The cost of making photocopies will vary from archive to archive. It may be as little as 15 cents per page to a dollar or more per page.
10. Return the original file, as you found it, to the clerk.
11. Label and file your findings, being sure to note the name of the archive, address, telephone number, Web site address, and the date you did your research there. I also usually pick up an information pamphlet at the archive and file it in a dated folder of its own along with address information, driving directions, and helpful archivists’ names, for future reference.

Documents You Might Find in Probate Files

The documents found in a probate file will vary radically. They may range from a single letter to a sheaf of court and family documents.

If the file represents proceedings to settle the estate of a deceased, its contents might include…

* a will, if there was one
* codicils (amendments) to the will
* a petition for an executor or administrator
* probate of the will
* a list of heirs or divisees
* an inventory of the deceased’s estate at time of death
* a report of the committee for partition when heirs cannot agree amongst themselves about how to divide the estate
* receipts from heirs and divisees
* a closing statement by the court
* an inventory of real estate and stocks and bonds held in joint tenancy, even though not part of the probate proceedings

If the file represents a name change, its contents might include…

* a petition for a name change
* a court decree

If the file represents adoption proceedings, its contents might include…

* a petition for adoption
* a deposition regarding the character of the prospective parents

Probate lists are worth a lot of money to savy investors who specialize in probate investing since they know that the competition level within the probate real estate market is very low for the exact reason that many people have a hard time finding an available probate list. Also probate properties are not as commonly advertised compared to foreclosure or short sale properties. I hope this probate article will help many investors and guide them to the wright direction in finding probate lists for their counties.

What is a Probate?

Probate is the legal process of proving the written will or last testament of a deceased person is genuine and then following the deceased’s wishes in that document.

When assets of the deceased, such as a house, stocks and bonds, a car, bank accounts, and other personal property, are probated, the local probate court procedure gives creditors several months to file their unpaid claims against the deceased’s estate. The unpaid bills will be paid once the property is sold.

Investing in Probate Properties

Investing in probate properties takes a lot of time and patience. Some probates can be completed within 6 months, while others take years.

The amount of time to complete the probate depends on a number of factors, such as the size of the estate, validation of the will, the appointing of an executor if there’s no will, and finding and notifying all beneficiaries.

How to find Probate Properties

Probate properties are often difficult to find. When looking for a probate property, the first person you should talk to is your real estate agent. Let your real estate agent know how much you want to spend and the types of properties you are looking for. Single resident homes, and multi-unit dwellings are just two of the many types of probate properties.

Probate public records are located withing the city hall of each jurisdiction. Anyone can go to their local city and get a list of newly listed properties in probate. This process is somewhat time consuming and could be draining since you would need to go down to your city on a weekly basis and sometimes a couple times a week. For those of you who are looking to learn better ways of finding and investing in probate properties I recommend 31 days to Probate Investing a fantastic digital course which will teach you everything about probate investing and where to find probate listings easily.

Probate Investing is ideal for either flipping or long term  holding of real estate. I have been investing in probate for close to 20 years and I can tell you first hand that majority of probate sales are below market, ranging anywhere from 10%-40% below market value. Most probate properties need cosmetic work, some minor and some major which always is factored in the appraisal of the property. Probate real estate is a very lucrative niche, if you have all the tools and knowledge necessary to pursue and invest in them.

Probate Real Estate investing and the probate real estate market is a concept that many investors are not too clear about and it is less competitive then the foreclosure market. If  your looking for a ready market of motivated home sellers who are often willing to sell at a deep discount — a market where you’ll have little to no competition at all, then keep on reading.

If your answer is ‘who isn’t?’, then there’s a slew of real estate investors who want to tell you their secrets to buying probate real estate. According to many of them, probate real estate sales are easily the single most profitable area of real estate investing.

Wat is probate real estate?

When a person dies, their estate - all their worldly belongings - often goes into probate court, where a judge appoints an Executor to oversee its administration. It is the Executor’s job to make sure that the belongings are divided fairly and according to the decedent’s wishes. Depending on the state, the judge may also give the Executor different levels of power.

Why Are The Owners Of Probate Property So Motivated?

In many cases, when an heir inherits property, they inherit a burden. There are estate taxes to be paid, repairs that must be made, even, in some cases, a mortgage or second mortgage that must be kept up to date. Ready

cash may be more important to them than any other factor.

Add in the fact that there are often multiple ‘owners’, and many of them may live far away, and you have a situation where selling the house is the best, sometimes only option to make sure that everyone gets their fair share of the estate.

Isn’t It Illegal To Sell Property That Is Being Probated?

It’s commonly assumed that sales of real estate in probate are extremely difficult, if not impossible. The truth is that, in most cases, the Executor has the power to make a decision to sell - as long as he has the agreement of all the heirs to the estate. In some cases, he or she may also need the permission of the court, but even if that happens, the agreement of all the heirs will usually be all the judge needs to approve a sale of real estate. Research the laws in your state for any requirements - for instance, some require that the property be listed through a licensed realtor.

How Do I Find Properties In Probate?

Wills in probate are a matter of public record. A little research at your local courthouse will get you a list of all wills presented for probate. A little more legwork will turn up records of deeds to properties held in their name. It’s all a matter of a little research to find properties whose owners are eager to sell, and sell quickly.

How Do I Contact People About Buying Their Inherited Property?

Unlike foreclosure sales, where the owners are being forced to sell when they don’t want to, many heirs are eager to sell their property quickly so that they can use the cash realized. You can send out letters or postcards, make a phone call, and even pay a personal visit. Just keep in mind that you are offering a solution that they may not have considered - ready cash. In many cases, they’ll be happy to accept an offer for as little as 75% of the market value of the house just to get it sold quickly, and will do anything they need to do to help the sale go through.

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