Probate isn’t necessary in every situation. If it's necessary in your situation, you'll need to start before anything can be sold or transferred. Once an executor is assigned (if one wasn’t named in the will), that executor has a considerable amount of independence. [read more="Read more" less="Read less"]
Under California’s Independent Administration of Estates Act, the executor is allowed to handle most parts of the process without court approval. Selling real estate, however, does require approval from the probate court.
First, all valid debts are paid out of the estate. Creditors have a period of four months to place a claim, and you have the ability to decide which are valid and which aren’t. If a creditor presses your decision, they may speak with the court, who will have the final say. If there isn’t enough money in the estate to pay all of the deceased’s outstanding debts, the court decides in which order things are to be handled.
After things are settled, the executor can petition the close the estate and do so with the court’s approval. That’s when the house is truly the property of the inheritor, who can decide whether to sell it or keep it.
Until then, the executor is still responsible for the upkeep of the home in probate. Often times, homes in probate are in a state of disrepair due to illness or old age of their original owner, and you’ll have to decide how to approach that situation.
Our company is very familiar with the probate process and we have purchased dozens of homes that were in similar situations. If you decide working with a real estate investor is your best solution we can help make the process smooth and seamless for you. [/read]