When a house enters probate in Georgia, the court will oversee the administration of the estate, including the distribution of assets to the deceased person’s heirs or beneficiaries.
During the probate process, the court will make sure that all debts and taxes owed by the estate are paid and that the remaining assets are distributed according to the terms of the will or Georgia’s laws of intestacy (if there is no will).
With regards to the house specifically, the court will determine its value for probate purposes. This is typically done through a real estate appraisal, which provides an estimate of the market value of the property. The court may also consider the value of any outstanding mortgage or liens on the property.
Once the value of the house has been determined, the court may order the sale of the property if it is necessary to pay debts or taxes owed by the estate. If the sale is approved, the proceeds from the sale will be used to pay debts and taxes, and the remaining funds will be distributed to the heirs or beneficiaries in accordance with the will or Georgia’s laws of intestacy.
In some cases, the heirs or beneficiaries may choose to keep the house and continue to live in it. In this scenario, they will typically be responsible for paying any outstanding mortgage or taxes on the property.
It is important to keep in mind that the probate process can be complex and time-consuming, and it may be helpful to seek the assistance of a probate attorney or Realtor with probate sales experience to ensure that the process is handled fairly and efficiently.