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  • The process of establishing entitlement to beneficiaries following the death of the person who has left the bequest or in accordance with the law if intestate.
  • Probate properties are those sold by relatives or beneficiaries in order to realise their financial interest in the property.
  • Often beneficiaries want a quick sale and are willing to sell somewhat below market value.  Any reduction in sale price to secure a quick sale is proportionally less in accordance with the numbers so the loss is relatively small.
Published: 29 September 2015 Last Updated: 17 November 2021