Understanding Probate and Its Role in Selling Inherited Property - Probate is a legal process that confirms a deceased person’s will and manages how their assets, including real estate, are handled. During this process, the court checks whether debts are paid and that the remaining property is distributed according to the will, or, if there is no will, according to state law.
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One term that frequently arises is the "escrow account for renters." While escrow is often associated with home purchases