What does it mean”Probate”? A question asked by buyers and sellers!
What does it mean Probate? A question often asked by buyers and sometimes even by sellers. Since I get asked this question more often, I thought I would share this with all potential buyers and sellers, not just in the Greater Los Angeles area, but everywhere there is a need to answer this question.
Probate is the court procedure that changes the legal ownership of the property after the owner passed away. Probate makes sure that the last will and testament is valid. Generally the executor named in’ the will’ supervises this process.
In other words “the will” must be admitted to Probate and the “estate” of the deceased must be “probated”. Keep in mind even if there is no “will”, there is a “plan” dictated by the laws of the state where the owner last resided at the time of death. Here in California there is the California Probate Doe and the Sections from 6400 through 6414 address the “intestate succession and the distributions of the properties”.
Some of the people who are about to “inherit” the properties go “through probate” first before selling. Then there are others who start the sales process and that is when you see in the comments section “Court Confirmation Required”
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, Brentwood, Bel Air, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at firstname.lastname@example.org visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.