A loved one has passed on and now your task is to go through the probate process to settle the estate. So what happens to the contents of the house?
This one is pretty easy.
Of course if there are items left in a house after a loved one has died the heirs are able to divide the personal belongings between them. If there is a will, it might stipulate a specific item like jewelry or furniture be given to a specific heir.
However, many times heirs simply don’t want or need the items left in a house. In this case there are a few options to choose from:
1. Have an estate sale (much like a yard sale) where people can come to the house and buy any of the items left behind.
2. Donate the items to friends, favorite charity or auction them off.
3. If the house is to be sold, the executor, administrator or beneficiary can leave the contents of the house exactly where they are and let the new buyer worry about it.
Speaking as active Louisville real estate investors, It is very common for us to buy probate real estate with contents still in the house. This takes a burden off the seller because they are able to take whatever it is they actually want and leave the rest.
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