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Los Angeles, El Gordo y La Flaca, Santa Ana College
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Probate sales, also known as probate real estate sales, refer to the process of selling a property that is part of a deceased individual’s estate through the probate court system.
When someone passes away, their assets, including real estate, may go through a legal process known as probate to determine how those assets will be distributed among heirs or beneficiaries.
In the context of real estate, a probate sale occurs when a property owner has passed away, and their property needs to be sold as part of the probate proceedings.
This can happen regardless of whether the property owner had a will (testate) or did not have a will (intestate).
The process involves legal proceedings to settle the deceased person’s affairs, which may include transferring ownership of their real estate assets to their beneficiaries or heirs.
Here’s a simplified overview of the probate real estate sale process:
Initiation of Probate
Appointment of Executor or Administrator
Property Valuation
Notification to Heirs and Beneficiaries
Listing and Sale
Court Confirmation
Sale Approval
Transfer of Title
Closing the Estate
Probate sales can be more complex than traditional real estate transactions due to the legal oversight and potential court involvement. Executors, administrators, and beneficiaries often seek guidance from legal professionals and real estate experts to navigate the process smoothly and ensure that all legal requirements are met.
Probate and trust sales require special disclosures, listing agreements and purchase contracts. In California, the California Association of Realtors has standardized forms specifically for probate transactions.
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