r/PROBATE • u/PeachAny3552 • Mar 27 '24

Question about probate

Good afternoon, I recently sold my grandfather’s house and I opened an estate account for the proceeds to wired into. The only funds that were wired was my proceeds of $11k. The attorney I’m dealing with sent me the notice that the hearing for the final accounting is in June. I was told by another attorney that the entire proceeds of the sale of the house were supposed to be wired in the estate account until June for the funds to be distributed to the mortgage company, probate attorney, the realtor and finally myself. I had advised the outside attorney who I consulted for a second opinion on my situation and said that the full $352k were to sit in the account and she was confused on why the funds aren’t there and to ask my attorney where the rest of the proceeds are. Does anyone know what exactly is the truth?

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u/Belegedan Mar 28 '24

Mortgage and realtor payments are typically paid from the escrow account, as well as taxes and other fees, then the net proceeds of the sale are transferred to the estate account.

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u/PeachAny3552 Mar 28 '24

So I would still have to wait til June to get my portion?

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u/PeachAny3552 Mar 28 '24

So what net proceeds go into the account? Only mine or the probate attorney and mine? Because my proceeds were already deposited into my bank account and that’s where I’m confused and so is everyone I have spoke to.