Don’t Sell Too Late: What You Need to Know About Probate, Real Estate, and Estate Planning in the South Okanagan

Don’t Sell Too Late: What You Need to Know About Probate, Real Estate, and Estate Planning in the South Okanagan

Do you want to work with the best Realtor in the South Okanagan, one who understands not only the market but also the financial and estate-planning layers that go with it?
If you answered yes, Riccardo (Rico) Manazza can help you.

As a REALTOR® with eXp Realty and a licensed financial advisor, I often guide clients through life’s major financial transitions from buying your first home in Penticton to planning how that same home will one day become part of your estate.

One topic that few people talk about until it’s too late is probate. When a loved one passes away, or when a seller dies while a property is under contract, the process can quickly become complicated, emotional, and expensive. Yet with the right foresight and planning, much of that can be avoided.

What Is Probate?

Probate is the legal process of validating a will and confirming the authority of the executor to act on behalf of a deceased person’s estate. In British Columbia, the Supreme Court issues a Grant of Probate, which gives legal permission to manage and distribute the estate’s assets including real estate.

If the deceased owned a property in their sole name, that property can’t be sold or transferred until the probate process is complete. On the other hand, if the property was owned in joint tenancy, it may automatically pass to the surviving owner.

In Penticton and throughout the South Okanagan, where many homeowners are retirees or estate holders, probate often becomes a factor in property sales particularly when families are managing inheritances or downsizing after a passing.

Why Probate Affects Real Estate Transactions

Here’s a scenario I’ve seen too often:
A buyer and seller have an accepted offer, and everything is ready for completion but then, unexpectedly, the seller passes away.

What happens next?

1. The property enters the estate.

2. The executor must apply for probate before the sale can legally close.

3. The transfer of title is paused no matter what the contract says until the courts issue the Grant of Probate.

While some might hope this process takes only a few weeks, the truth in British Columbia is that probate can take months or even years depending on the complexity of the estate, the existence of a will, or any disputes among heirs.

That’s why proactive planning is essential not only for homeowners and investors but also for families who want to avoid unnecessary delays and legal costs.

My Top Recommendation: Update Your Will Whenever You Buy a Property

Every time you acquire a property or add a significant asset to your portfolio especially if you’re not purchasing through a corporation or holding company one of my top recommendations is to update your will.

This can be done easily during the same period as your transaction. It’s not a costly process, and it can be handled by a notary or lawyer at the same time you sign your closing documents.

Even more important, once your will is updated, register it with the Vital Statistics Agency or a recognized will registry service. If your family or executor doesn’t know that a will exists, the government won’t go searching for it and the estate may face unnecessary delays and added taxes.

A clear, registered, and current will is one of the simplest ways to protect your property, your beneficiaries, and your peace of mind.

Common Questions About Probate in British Columbia

1. Do I always need probate to sell a property?

Not always, but usually. If a property is owned solely by the deceased, probate will be required. If it’s held jointly with right of survivorship, the surviving owner may take title automatically.

2. What happens to a real estate sale if the seller dies mid-transaction?

If the contract was legally binding before the seller’s passing, it may still be valid — but it can’t close until the executor has authority via probate. The sale is effectively “on hold.”

3. How long does probate take in BC?

Expect at least four to six months, sometimes longer. The court’s workload, the estate’s complexity, and the completeness of documentation all affect the timeline.

4. What costs are involved?

Probate fees in BC are based on the estate’s total value. For properties in Penticton or the South Okanagan, where market values have risen significantly, this can mean thousands of dollars in fees another reason to plan ahead. Usually the cost is upfront in order to release the assetts. 

5. Can a REALTOR® help with probate sales?

Yes but the key is experience. A REALTOR® familiar with probate transactions will understand the necessary court wording, executor timelines, and special contract clauses (such as “subject to probate”) that protect both buyer and seller.

The Financial and Emotional Toll of Waiting Too Long

Selling a property under probate isn’t just a legal hurdle — it can also mean:

• Market shifts while the estate is in limbo.

• Carrying costs for utilities, insurance, and taxes.

• Emotional strain for family members already dealing with loss.

• Missed opportunities if heirs need liquidity for other priorities.

That’s why I tell clients: Don’t sell your property when it’s too late.
Plan early, document clearly, and communicate your wishes.

Estate planning and real estate go hand-in-hand. Whether you own your family home, a vacation property in the South Okanagan, or an investment condo in Penticton, you’re building a financial legacy and that legacy deserves structure.

How Real Estate and Financial Strategy Work Together

As both a financial advisor and REALTOR®, I believe property decisions should always be viewed through the lens of your overall financial plan. That includes:

• Aligning your real-estate purchases with your long-term wealth strategy.

• Using tools like joint ownership, corporations, or trusts where appropriate.

• Coordinating with your accountant or financial planner to reduce tax exposure.

• Ensuring your estate plan reflects your most current holdings.

Many people focus only on today’s transaction. My approach helps clients understand tomorrow’s implications not just how to buy or sell, but how to protect, grow, and transfer wealth.

Why Work With a Probate-Savvy REALTOR®

In Penticton and across the South Okanagan, a growing number of transactions involve estates, Power of Attorney (POA), or multi-generational ownership. Choosing an agent who understands both real-estate mechanics and the financial side of estate management ensures smoother communication with lawyers, executors, and beneficiaries.

I’ve personally navigated complex estate sales and worked alongside executors managing probate delays. I also help clients prepare before these situations arise structuring their assets and ownership so that transitions happen smoothly and with dignity.

Key Takeaways

• Probate is the legal validation of a will and is required to transfer real estate owned solely by a deceased person.

• In BC, the process often takes months or longer so proactive planning saves time, money, and stress.

• Update your will every time you acquire new property, especially if it’s held personally.

• Register your will unregistered documents often cause avoidable delays.

• Work with professionals who understand both real-estate and estate-planning strategies.

Let’s Talk About Solutions

If you’re wondering how probate might affect your property, or if you want to make sure your estate is organized before a major purchase or sale, I’m here to help.
Whether you’re in Penticton, Oliver, Osoyoos, or anywhere in the South Okanagan, I can guide you through both the real-estate and financial sides of the conversation.

Riccardo (Rico) Manazza, REALTOR® | eXp Realty | South Okanagan
📞 236-457-4230 | ✉️ rico@mypropertycentral.ca
🌐 www.riccardomanazza.realtor | www.mypropertycentral.ca

💬 Want to discuss your estate plan or see how probate could affect your next move?

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Disclaimer: The information provided here is for educational purposes only and should not be considered legal or financial advice. Always consult with a licensed professional for your specific situation.

P.S. When was the last time you reviewed your will? If it hasn’t been updated since your last property purchase, now’s the perfect time. Reach out today — let’s make sure your financial and real-estate goals are working together.