At Flatirons Real Estate Group, we can help you buy or sell any type of residential property in Colorado. However, we have particular expertise in assisting clients with the disposition of probate real estate (the analysis and transfer administration of estate assets previously owned by a deceased person). Our managing broker, Harvey J. Williamson, is a trusts, estate, and probate attorney with 24 years of experience.

We have extensive experience in working with personal representatives of probate estates. We also regularly work with trusts and trustees, estate and trust beneficiaries, and executors of out-of-state estates in which the decedent owned property in Colorado.

To inherit property means to come into ownership of property at the death of another. There are several ways someone can inherit real estate in Colorado. There are also several different ways that real estate can be sold for the benefit of the intended beneficiary. We know the ins and outs of the entire inheritance process, so we can provide valuable advice at each stage of the process to ensure you have the most seamless sale process possible. Our focus is on listing and selling inherited properties (or properties in the process of being inherited, i.e. in probate). We represent estates, trusts, personal representatives, trustees and estate beneficiaries throughout Colorado in all aspects of the sale process for inherited property.

Disposing of probate or inherited real property in Colorado is a technical matter that must be strictly adhered to in order to pass marketable title to a purchaser to closing. We specialize in these types of transactions. We can identify what type of inheritance the client is involved with, and can walk them through every step of the process to make certain that clear title is passed at closing without any delays or hiccups.

What are title standards?

Much depends on how the decedent owner had the property titled when he or she died.

What are the ways a decedent can transfer real estate in Colorado?

1. Automatically by operation of law. This type of transfer becomes effective at the moment the decedent dies. It is automatic in its effect, but not in how it is documented and evidenced. For example, even if you inherit real estate by being a joint tenant with rights of survivorship or through a beneficiary deed, there still needs to steps taken to properly evidence the fact that the transfer has taken place, that you are the sole owner of the property, and that you have right to dispose of that property. Becoming the legal owner of the property and being able to properly dispose of that property are two different things. The legal aspect of becoming the owner happens automatically. The practical aspect of establishing and documenting your ownership so you can pass marketable title under Colorado Real Estate title standards requires more. You need to properly document you ownership in order to pass marketable title. I.E., you need to establish yourself as a continued, uninterrupted link in the chain of title for the property.

Without taking these steps, you will be unable to pass marketable title under the Colorado Real Estate title Standards currently in effect. Additionally, some steps may require a long wait time, which if you don’t start early enough, can cause a closing to be cancelled.

2. Through a probate proceeding. Probate is a court proceeding wherein a court determines and designates an individual to act on behalf of the decedent’s estate. This personal is referred to as a Personal Representative. A Personal Representative is required to be designated to act for a decedent’s estate, regardless of whether of not the decedent left a will. A decision must be made regarding whether to have the Personal Representative sell the property within the probate proceeding, or distribute the home to the beneficiaries, and then let them sell the home once they are the titled owners. There are plusses and minuses to each avenue here. To properly close a sale of inherited property in a probate sale, you need special documents from the Court evidencing the Personal Representative’s power to act on behalf of the estate. Failure to record the proper probate documents can mean that marketable title cannot be delivered to the buyer.

3. Through a trust. You thought this was the easy way to sell an inherited property. It is admittedly easier than selling through probate, but there are still some documents that need to be signed, notarized and recorded before the trustee can pass marketable title to either a trust beneficiary or a third party purchaser for value.

We start at the beginning with our clients. This means determining who should be the seller. Sometimes it can be easier transaction-wise to have the personal representative be the seller. This can also limit liability of the beneficiaries. Other times, the beneficiaries may want to have the property transferred to them directly from the probate estate, and then they will be the sellers.