In British Columbia, Canada, a probate house sale refers to the sale of a property that is part of an estate in probate, meaning the legal process of verifying a will as authentic under BC law.
Assets subject to probate in British Columbia include bank and investment accounts, insurance policies, safe deposit boxes, jewelry and decorative items, clothing, artwork clothing, and furniture.
A Person’s will typically designate an executor who has the power to sell their property after they die, with the intention that the proceeds will be distributed among the deceased’s children or beneficiaries. The estate executor must follow the proper legal procedures to sell the property, which may involve obtaining a grant of probate from the court.
In summary, a probate house sale in British Columbia refers to the sale of a property that is part of an estate in probate, where the estate executor is authorized to sell the property and distribute the proceeds according to the deceased’s wishes and legal requirements.