Thursday, February 17, 2011

What is a Probate Sale?

"Probate" is the court-supervised administration of a decedent's estate. The probate proceeding involves "proving the will" (if there is a will), appointing the personal representative, determining the decedent's assets that are subject to probate. More specifically, any property that the decedent owned or had an interest in at the time of death is collected into the estate and distributed to those entitled to it after all debts and expenses have been paid. Thus, the process of administering a decedent's estate is referred to as "probate" and is generally supervised by the probate court.

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