Navigating the Difference: A Guide to Trust Sales vs. Probate Sales in Real Estate

A trust sale and a probate sale are two different methods of selling a property after the owner has passed away.

A trust sale occurs when the property is owned by a trust and is being sold according to the terms of the trust agreement. The trustee, who is responsible for managing the assets in the trust, handles the sale of the property. A trust sale is generally a quicker and more streamlined process because the terms of the sale are already established in the trust agreement.

A probate sale, on the other hand, occurs when the property is part of the decedent's estate and is being sold as part of the probate process. In this case, the sale must be approved by the court, and the property is typically sold to pay off debts and distribute the remaining assets to the heirs. The probate process can be time-consuming and may take several months or even years to complete, depending on the complexity of the estate.

Both trust sales and probate sales have their own set of requirements and challenges, and it's important to have a knowledgeable real estate agent to guide you through the process. An agent can help you navigate the legal and financial aspects of the sale, ensure that the sale is handled in compliance with all applicable laws and regulations, and help you get the best price for the property.