Leaving a home vacant while it is in probate can be a challenging and stressful experience. Whether it’s a family home filled with memories or an investment property, ensuring its security and maintenance during this period is crucial. Here are some steps to help you manage a vacant home in probate effectively, with a particular emphasis on securing the property and understanding vacancy insurance.
1. Secure the Property
Securing the property is the most critical step in managing a vacant home. This involves multiple layers of security to deter potential intruders and protect the home from damage. Here’s how you can achieve a comprehensive security setup:
Change the Locks
- Why: Changing the locks ensures that no one who previously had access can enter the property without permission.
- How: Hire a locksmith to change all exterior locks. Consider using high-security locks that are more resistant to picking and bumping.
Install a Security System
- Why: A security system deters burglars and allows you to monitor the property remotely.
- How: Choose a system with the following features:
- Surveillance Cameras: Install cameras at key points around the property, including entrances, the garage, and the backyard. Opt for cameras with night vision and motion detection capabilities.
- Alarm System: Install alarms on all entry points, including doors and windows. Ensure the system is connected to a monitoring service that can alert local authorities in case of a break-in.
- Smart Home Integration: Consider a smart security system that allows you to monitor and control it remotely via a smartphone app.
Exterior Lighting
- Why: Proper lighting can deter potential intruders by increasing visibility around the property.
- How: Install motion-activated lights around the exterior of the home. Ensure that all entry points, including doors and windows, are well-lit.
Secure Windows and Doors
- Why: Windows and doors are common entry points for burglars.
- How:
- Windows: Install window locks or bars. Consider using shatterproof glass or adding security film to make windows more resistant to breaking.
- Doors: Reinforce door frames and hinges to prevent forced entry. Use deadbolt locks on all exterior doors.
Notify Local Authorities
- Why: Local police can help monitor the property during their routine patrols.
- How: Inform the local police department that the home will be vacant. Provide them with your contact information and request that they include the property in their regular patrols.
Use Timers for Lights and Electronics
- Why: Timers can create the illusion that someone is home.
- How: Set timers for interior lights, radios, or TVs to turn on and off at different times of the day.
2. Maintain the Property
Regular maintenance helps preserve the property’s value and makes it more attractive to potential buyers. Key areas to focus on include:
- Lawn and Garden Care: Hire a service to maintain the lawn and garden. Overgrown yards can signal to others that the home is vacant.
- Pest Control: Schedule regular pest control visits to prevent infestations.
- Routine Inspections: Arrange for someone to check on the home periodically. They can look for signs of damage, leaks, or other issues that need attention.
3. Handle Utilities and Services
Managing utilities and services effectively can save money and prevent problems down the road.
- Utilities: Keep essential utilities like electricity and water running to avoid complications like frozen pipes in winter.
- Forward Mail: Forward any mail to an executor’s address to ensure important documents are not missed.
4. Insurance
Ensuring the property is adequately insured is vital, especially when it will be vacant for an extended period. Standard homeowner’s insurance policies often do not cover homes that are unoccupied for more than 30 to 60 days. This is where vacancy insurance comes into play.
Understanding Vacancy Insurance
Vacancy insurance is a special type of policy designed to cover homes that are unoccupied for a longer duration. Here’s what you need to know:
- Coverage Scope: Vacancy insurance typically covers risks that standard homeowner’s insurance may not, such as vandalism, theft, and damage from natural elements like storms or floods.
- Eligibility: To qualify for vacancy insurance, you must inform your insurance provider about the property’s vacant status. Failure to disclose this can lead to claim denials.
- Duration: Policies can vary in length, from a few months to a year. Choose a duration that aligns with the expected length of the probate process.
- Cost: Vacancy insurance can be more expensive than regular homeowner’s insurance due to the increased risks associated with unoccupied properties. However, the cost is worth it for the peace of mind it provides.
How to Obtain Vacancy Insurance
- Contact Your Insurance Provider: Start by discussing your needs with your current insurance provider. They may offer a vacancy insurance rider to your existing policy.
- Shop Around: Compare quotes from different insurance companies to find the best coverage and rates.
- Read the Fine Print: Ensure you understand the policy details, including coverage limits, exclusions, and any conditions that must be met for the policy to remain valid.
5. Inform Neighbors
If the property is in a residential neighborhood, inform a trusted neighbor about the situation. They can help keep an eye on the property and alert you if they notice anything unusual.
6. Legal and Financial Considerations
Probate can be a lengthy process, and managing the financial aspects is essential.
- Mortgage Payments: Ensure that mortgage payments continue to be made to avoid foreclosure.
- Property Taxes: Stay on top of property tax payments to avoid penalties or liens.
7. Prepare for Sale or Transfer
If the home will be sold or transferred to an heir, start preparing it for that process early on.
- Declutter and Clean: Remove personal belongings and clean the home thoroughly. A well-presented home is more appealing to potential buyers.
- Minor Repairs: Consider making minor repairs to improve the home’s marketability.
Conclusion
Leaving a home vacant during probate requires careful planning and regular attention to ensure it remains secure and well-maintained. By securing the property, maintaining regular upkeep, managing utilities, and obtaining appropriate vacancy insurance, you can minimize risks and protect the value of the property until the probate process is complete. If you’re unsure about any aspect of managing a vacant home in probate, consulting with legal and real estate professionals can provide valuable guidance.