We Buy Probate Properties in Louisville & Kentucky
When someone passes away and leaves behind real estate in Kentucky, the property typically must go through probate before it can be sold. This can be a lengthy and emotional process — especially if the property needs repairs, has multiple heirs, or is sitting vacant.
We buy probate properties as-is, for cash. We work with the executor, the attorney, and the court to close as quickly as Kentucky law allows.
How Kentucky Probate Works for Real Estate
- Filing: The executor files a petition in the county District Court where the deceased lived.
- Appointment: The court appoints the executor (if named in the will) or an administrator (if no will exists).
- Inventory: The executor must file an inventory of estate assets, including real property, within 60 days.
- Creditor Claims: Kentucky law requires a 6-month window for creditors to file claims against the estate.
- Court Approval: The executor may need court approval to sell real property, depending on the will's terms and whether all heirs agree.
- Distribution: After debts are paid and property sold, remaining assets are distributed to heirs.
Kentucky Inheritance Tax
Kentucky is one of only a handful of states that levies an inheritance tax. How much depends on the heir's relationship to the deceased:
- Class A (Exempt): Surviving spouse, children, grandchildren, parents, and siblings pay zero inheritance tax.
- Class B: Nieces, nephews, aunts, uncles, daughters-in-law, and sons-in-law are taxed at 4–16% on amounts over $1,000.
- Class C: All other beneficiaries (including friends) are taxed at 6–16% on amounts over $500.
Understanding the tax implications can help heirs decide whether selling the property quickly makes financial sense.
Small Estate Shortcut
Under KRS 395.455, if the estate's total personal property value is under $30,000, heirs can file a Petition to Dispense with Administration instead of going through full probate. However, this shortcut applies only to personal property — it does not cover real estate. If the deceased owned a house, you must go through regular probate or transfer ownership through other legal means (such as a transfer-on-death deed or joint tenancy).
Why Sell a Probate Property to Us?
- Buy As-Is: No repairs, no cleaning, no staging. We take the property in its current condition.
- Work with Attorneys: We coordinate directly with the estate attorney to handle the legal requirements.
- Cash Offers: No financing contingencies. The estate gets a guaranteed sale.
- Resolve Heir Disputes: When multiple heirs disagree, a cash sale can be the simplest resolution.
- Stop Carrying Costs: Vacant probate properties still incur taxes, insurance, and maintenance costs. Selling fast stops the drain on the estate.
If you're an executor dealing with a probate property in Kentucky, contact us for a free cash offer. We'll work around the court's timeline to make the process as smooth as possible.