Managing the Probate Process
Managing the probate process might be too complicated for some since it differs from the usual home sale process. Here is a comprehensive guide on effectively managing the complex probate sales process.
Probate is the distribution of a deceased person’s assets according as stated by the deceased Will or as appointed by the court.
How to start a probate process?
For a probate process to start, someone petitions the court to open probate for a deceased person’s estate. The petitioner must present the death certificate and a Will. The court opens probate after reviewing this information.
What happens after filing a petition to open a probate sales process?
After formally opening the probate process, this is where marketing, negotiations, and hearings take place. The property will be on multiple listings and in the local newspaper to gather potential buyers after the executor and the agent identify the estate’s market value. Overbidding will then happen, where potential buyers try to outbid each other. Note that everything happens under the supervision of the court. One way or another, you will find yourself inside the court whether you are the executor or buyer.
Who can stand as the representative of the estate?
If the person dies in “testate” (with a Will), the Will will identify who will be the representative of the estate as chosen by the deceased. If there is no Will, the court will be the one to appoint the personal representative of the estate.
How long does the probate process take?
If you are wondering how long does the probate process take, it usually takes months to finish. Typically between one to six months. However, in some cases, probate might take years. California probate process timeline can take years depending on the details of the case. The point is that the probate process isn’t a quick procedure.
Since there will be a lot of legal matters and court appearances involved in the process, it is favorable if you work with a qualified real estate agent who is an expert in the probate process.
If you need further information about the California probate process, please feel free to contact us at your earliest convenience.