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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: right to sell during probate proceding Posted by Kristine-CA on November 06, 2009 at 7:56 PM In Reply to: Re: right to sell during probate proceding posted by Jane M on November 03, 2009 at 10:23 PM Hi Jane. Since you now know that the agent really doesn't know anything about probate, be careful not repeat the things she says....without knowing if they are accurate. Sole heirs do not have any special powers that make it so that they don't have to get court approval. It's the condition of the deceased's estate that dictates that. Some of the variables are: whether the deceased died testate or intestate the value of the estate. whether or not there are debts court ordered actions Those are some of the things that dictate what kind of probate action has to happen and whether or not sale of the property requires court approval. That being said, a sole bene is usually an easier deal to get done because there are fewer players. Please keep us posted. I hope your deal ends up being a straightforward sale. But if not, it's fun to brainstorm on ways to get a better deal. : HI, Rick: : Thanks a lot for your tips. The listing agent is 1st time selling probate too. : She said the sale doesn't require court approval due to sole heir situation. : I will have to clarify things with escrow and title as you suggested. : Best regards, : Jane : : If you're buying off the MLS, you're going to receive title insurance, correct? So, relax (you'll probably have much spare time to do this anyway, if the sale requires court confirmation at any point). : : You don't have to become a probate expert; just let the players involved do their jobs! : : Since deceased people can't sign escrow and transfer docs (normally), it's the role of the court appointed personal representative to sell the asset()s), pusuant to cout powers. : : Just remember the following: "C.P.A." : : In a CA sale, a seller must have each of these three (3) things: : : 1) Capacity : : 2) Powers : : 3) Authority : : I suggest that you discuss these points with the title officer who's providing you policy. S/he will tell you what documents that they require to insure such a sale transaction. : : Also, did you read the archived article on this website concerning probates? It's still not too late! : : (Actually, hurry up and wait would better describe your situation!) Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Hi Jane. Since you now know that the agent really doesn't know anything about probate, be careful not repeat the things she says....without knowing if they are accurate. Sole heirs do not have any special powers that make it so that they don't have to get court approval. It's the condition of the deceased's estate that dictates that. : Some of the variables are: : whether the deceased died testate or intestate : the value of the estate. : whether or not there are debts : court ordered actions : Those are some of the things that dictate what kind of probate action has to happen and whether or not sale of the property requires court approval. That being said, a sole bene is usually an easier deal to get done because there are fewer players. : Please keep us posted. I hope your deal ends up being a straightforward sale. But if not, it's fun to brainstorm on ways to get a better deal. : : HI, Rick: : : Thanks a lot for your tips. The listing agent is 1st time selling probate too. : : She said the sale doesn't require court approval due to sole heir situation. : : I will have to clarify things with escrow and title as you suggested. : : Best regards, : : Jane : : : If you're buying off the MLS, you're going to receive title insurance, correct? So, relax (you'll probably have much spare time to do this anyway, if the sale requires court confirmation at any point). : : : You don't have to become a probate expert; just let the players involved do their jobs! : : : Since deceased people can't sign escrow and transfer docs (normally), it's the role of the court appointed personal representative to sell the asset()s), pusuant to cout powers. : : : Just remember the following: "C.P.A." : : : In a CA sale, a seller must have each of these three (3) things: : : : 1) Capacity : : : 2) Powers : : : 3) Authority : : : I suggest that you discuss these points with the title officer who's providing you policy. S/he will tell you what documents that they require to insure such a sale transaction. : : : Also, did you read the archived article on this website concerning probates? It's still not too late! : : : (Actually, hurry up and wait would better describe your situation!) [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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