It is important to understand the difference between these three leads so you can market to them appropriately.
- Probate means a person has passed away and there was a will. The grantee(s) inherit the property. Only the executor(s) need to sign legal documents.
- Heirship means there was no will, so descendants fill an Affidavit of Heirship claiming their right to the property. If the decedent had three children, for example, they would all file an Affidavit of Heirship together. Each heir would need to sign documents to sell the property.
- A guardianship is a legal relationship created when a person or institution is named in a will or assigned by the court to take care of minor children or incompetent adults. This may mean a person has become incapacitated due to illness or an accident, and the guardian will be legally able to handle the person's affairs (including real property).