Probate, what is it?
How do I know if I need it?
How and when can I sell the house?
In this video, I'll break down and de-mystify this process for you.
Stay tuned to the end of the video for your free gift which will help you to stay on track
with the duties and the timeline required for California probate.
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Hi, I'm Mary Anglin with United Real Estate Los Angeles.
As a Seniors Real Estate Specialist, my passion is helping people through their real estate
process whatever their situation may be, and in this video, I'm going to share six crucial
steps for the probate process.
My first word of advice when handling the estate of someone who has passed is to contact
your or the decedent's lawyer.
This video is not intended for legal advice, but instead offers general information to
guide heirs in the sale of inherited real estate.
If you don't have a lawyer, I recommend finding one who is a Certified Specialist in Estate
Planning, Trust, and Probate Law.
You CAN begin the probate process with the courts on your own.
However, it can be quite complicated, so I highly recommend hiring a lawyer.
The potential mistakes avoided and the stress relief a good lawyer can provide are well
worth the cost.
Next, what is probate?
Probate refers to the general administering of a deceased person's will or the estate
of a deceased person who has passed without a will.
The court appoints either an Executor or an Administrator as the Personal Representative
to administer the process of collecting the assets of the deceased person, paying any
liabilities remaining on that person's estate, and finally, distributing the assets of the
estate to the beneficiaries.
Share in the comments any experiences you've had or questions you have involving a probate
situation.
Next, how do you know if you need the probate process?
The short answer is "how is the property titled?".
Have your realtor or title company pull the grant deed.
If ownership is in the individual's name, it will need to go through probate.
If title is held as a Living Trust, Joint Tenancy, or Community Property with the Right
of Survivorship, you can move forward with the sale without probate procedures.
Fourth, how do you begin the probate process?
The first step is to file a form called the "Petition for Probate".
In California, this is a four-page document which will define many aspects of your process.
Your attorney will walk you through the completion of this form.
Fifth, the personal representative is given either Full or Limited Authority
to sell the real estate portion of the estate.
With Full Authority, you, of course, must act in the best interest of the estate and
your actions can be subject to questioning later on by the court or a beneficiary but
you will have the authority to take care of business without delay.
If granted Limited Authority, the process of selling property must go through a series
of court-regulated steps that must be adhered to by the letter and can prolong the process.
Sixth, what's involved in selling a house in probate?
Once the court has issued Letters of Administration or Letters Testamentary - usually about four
to six weeks after the filing of the petition - the Personal Representative is okayed to begin
to transact business.
This means the home can be listed for sale at this time.
I do recommend getting the house ready for sale while you're waiting on the receipt of
the letters.
You'll likely need to clean and empty the home, and perhaps have an estate or a garage
sale, maybe even do a few minor repairs or maintenance.
Your Realtor should have recommendations on who to contact for these things as well as
other things that are needed.
There are differences to be noted in the sale process between a regular home
sale and a probate sale including the required documents for both listing and buying are
different.
The length of the listing period is limited by law, and the sales price can be a bit tricky
when limited authority is involved.
You can see that it's important to hire an agent who is not only an expert at marketing
and selling homes, but who also has education or experience in the probate or inherited
property process.
You'll find more videos on various aspects of a home sale on this channel.
So, now that you know the six crucial points about selling a property in probate
click on the link in the description box to access my free probate process timeline document.
If you're in the San Gabriel Valley or the Inland Empire and are in need of a Realtor
I'm right here in West Covina.
Just give me a buzz.
I look forward to connecting with you.
If you enjoyed this video and found it helpful please give it a thumbs up and make sure you
subscribe so you don't miss my upcoming videos, and I'll see you on the next video.
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