This course provides an overview of estate law and a practical guide to probating an estate in Virginia. Essential terms are defined and procedures are explained for administering testate and intestate estates. This course also covers the basics of trust law in Virginia. It deals with purchasing and selling real property in the name of a revocable living trust. It covers the difference between property held in the name of a trust and property devised by will to a trust. Finally, this course provides an overview of powers of attorney as they are used for the purchase and sale of real property.
This course will benefit the real estate salesperson and broker professionally because it explains how the death of a property owner affects the conveyance of real property. It informs the real estate salesperson and broker of issues that must be addressed when listing a property being sold by an estate. It also provides an overview of how real estate closings are conducted when probate is involved. Finally, it provides a foundation and understanding to the real estate salesperson and broker of the use of trusts and powers of attorney in real estate transactions.
This course increases protection of the general public because too often, sellers are unaware that an estate must be probated before property can be sold. Also, the public will be better informed of what is required to administer an estate, sell property titled in the name of a trust and the basic requirements for using powers of attorney in real estate transactions.
CANCELLATION POLICY APPLIES UPON REGISTERING FOR THIS COURSE. Cancellation fee is $5.00. No exceptions.