Selling Real Estate During Probate Administration
An Overview: Selling Real Estate During Probate Administration
When selling real estate during probate administration, providing notice to interested parties is an important part of the process during an estate administration. It is very important that personal representatives and trustees provide proper notice so that they are not subject to any liability. California probate rules dictate what should be included in a notice.
What Should be Included in a Notice:
- Sales price
- Closing date
- Amount of any commissions
- Property address
In addition, fiduciaries should note that properties subject to pre-foreclosure proceedings must also comply with California’s pre-foreclosure sale statutes. If the property that you are trying to sell is in a state of pre-foreclosure, you must be especially cautious when providing notice.
The Notice Should be Sent to all of the Following People:
- Surviving spouse
- Anyone receiving an interest under California’s intestacy laws, if there is no will
- All of those named in the will as receiving an interest in the property, if there is a will
When a fiduciary must comply with both foreclosure laws and probate rules, it can be hard to understand what procedures should be followed. Our article Foreclosure and Probate in California provides more information.
Providing notice when selling real estate during probate administration protects the fiduciary from potential liability. It provides interested parties with an opportunity to come forward with complaints and challenges and allows the property to be sold free and clear after the notice requirements are met.
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