KEY POINTS REGARDING THE SALE OF PROBATE PROPERTY

  • Must be a Personal Representative’s (PR) deed, not a Warranty deed.
  • Because the PR may have limited knowledge of the property, there should be a specific disclaimer to this effect and an “AS IS” provision included in the purchase agreement, no Statement of Condition should be signed, and the statutory disclosure should be properly waived as allowed under M.S. 513.60. However, the PR is obligated to disclose known conditions affecting the buyer’s use and enjoyment of the property.
  • The PR must be careful in warranting the status of the property taxes with respect to homestead. Depending upon the length of time the decedent has been dead and the occupancy of the homestead prior to death, the taxes may be classified as non-homestead.
  • County probate court may require “sale papers” be issued by the court before the sale can proceed.
    • The PR deed needs to be signed prior to, or on the certification date of the sale papers. This requires the PR to sign the deed prior to closing.
    • The county examiner of titles should be contacted before closing to determine what documents are needed and how long the process will take.
  • Seller’s attorney should review all closing documents well before closing.