Coldwell Banker Hallmark Realty
Zohrab Z Ashikyan
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Probate

Probate definition by California Courts “PROBATE: The judicial process in which an instrument purporting to be the will of a deceased person is proven to be genuine or not; lawful distribution of the decedent’s estate. The legal process of administering a will. Also, the judicially supervised process for marshaling a decedent’s assets, paying proper debts, and distributing the remaining assets to the persons or entities entitled to them. An estate may be probated even if there is no will”.

Probate is necessary when the assets including the real estate of the deceased exceed $150,000. Probate is a legal process by estate settlement when someone dies. Probate and estate settlement ensures that creditors of deceased are paid and the rest of the money is paid to beneficiaries; or title of the real estate is cleared and transferred to beneficiaries  (who usually are legal heirs and/or individuals listed in the will). The probate sale of the real estate is a set of legal procedures supervised by court. Deadlines must be met, court decisions must be honored through marketing, offer negotiations and the sale of the real estate. Certain documents are necessary and these documents should meet their due dates.

The probate process usually includes Administrator or Executor for the estate settlement. In general other parties are the real estate attorney or lawyer who represents the estate, REALTOR (listing agent) who represents the seller, real estate agents (REALTOR) that represent buyers. All guidelines should be met and due dates satisfied.

Trust and Conservatory Sales.

Useful Links

  1. California Probate Code
  2. Request for Exclusion From Reassessment
  3. Propositions 58/193