Other Legal Terms in a Probate Real Estate Sale
1. Probate: The legal process of administering the estate of a deceased person, including the distribution of assets and payment of debts.
2. Executor: The individual named in a will and appointed by the court to manage and distribute the deceased person’s estate.
3. Administrator: The person appointed by the court to manage and distribute the estate if there is no will or if the named executor cannot serve.
4. Decedent: The person who has passed away, leaving behind an estate to be probated.
5. Estate: All the assets, including real estate, personal property, and financial holdings, owned by the decedent at the time of their death.
6. Beneficiary: An individual or entity named in the will who is entitled to receive assets from the estate.
7. Heir: A person legally entitled to inherit property from a decedent under the laws of intestacy if there is no will.
8. Intestate: Dying without a valid will. The estate is distributed according to state laws of intestacy.
9. Testate: Dying with a valid will in place.
10. Letters Testamentary: A legal document issued by the court authorizing the executor to act on behalf of the estate.
11. Letters of Administration: A legal document issued by the court authorizing the administrator to act on behalf of the estate. Sometimes just called LETTERS.
12. Petition: A formal written request to the court for an order or ruling, such as approving the sale of real estate.