Probate Sales
A probate real estate sale differs in many ways from a traditional real estate transaction. Although it can seem like a daunting process, our staff are experts in probates cases and we can help guide you every step of the way to ensure the property is sold in a timely manner. Below is a general guideline of your typical probate sale.
What is a Probate Sale?
Probate is the legal process for gathering the assets of a deceased person to pay their debts and distribute the balance to their beneficiaries. This is usually a court supervised process which can span from several months to several years depending on the complexity of the case. The following is rough breakdown of the general time frame of a typical probate transaction.
Phase 2: Administration
The Estate Representative:
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Searches for deceased person's assets and debts
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Obtains appraisal of all assets
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Confirms validity of all debts
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Sells some or all assets to pay valid debts
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Resolves all claims and debts against estate
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Resolves inheritance issues, if any
General Timeframe
2 - 8 Months
Phase 3: Closing
The Estate Representative:
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Prepares final report and accounting for submission to court and beneficiaries for approval
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Distributes net estate to beneficiaries according to the Will, or the laws of the State of California if there is no will.
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Closes the case
General Timeframe
9 - 12 Months*
(Depending on complexity of case)
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Phase 1: Appointment
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Probate Case is filed
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Deceased person's will is admitted into probate (if any).
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Court appoints estate representative
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(Administrator or Executor)
General Timeframe
1-60 Days