Probate: Meaning and Definition
“The legal process by which the Supreme Court validates a deceased person’s will and confirms the executor’s authority to manage and distribute estate assets.”
Probate is a crucial legal step when selling a property belonging to a deceased estate. Before a property can be legally transferred or sold by an executor, the Supreme Court of NSW must grant probate. The probate grant verifies the validity of the will and gives the executor the legal right to deal with the assets. While a contract of sale can sometimes be prepared and exchanged 'subject to the grant of probate', the transaction cannot settle until probate is officially granted.
The probate process is governed by the Succession Act 2006 (NSW). It involves submitting the original will, death certificate, and inventory of assets to the court. For executors managing an inherited property, selling directly off-market to a direct buyer avoids long public campaigns and can reduce administration timelines, helping distribute estate proceeds to beneficiaries quickly.
Frequently Asked Questions about “Probate”
What does "Probate" mean in Australian property?
The legal process by which the Supreme Court validates a deceased person’s will and confirms the executor’s authority to manage and distribute estate assets.
How does "Probate" apply when selling a house privately in NSW?
When selling a property privately in New South Wales, understanding "Probate" is important because it affects your rights, obligations, and the overall sale process. We recommend reviewing the relevant NSW legislation and consulting a licensed conveyancer for advice specific to your situation.