A Probate property is a real estate asset that is part of a deceased person's estate, which must go through the legal process of probate before it can be sold or transferred. This process involves validating the deceased's will (if there is one) and settling any debts or taxes owed before the property can be distributed to heirs or sold. Renovating a Probate property can be complex as it often involves legal and financial considerations, as well as the need for approvals from executors or court authorities.