Ventura County Probate Sales

If you have a home subject to probate, Team 805 can help ensure the sales process goes smoothly and according to legal requirements.

Property Sales During Probate

Helping Streamline Property Sales for Probate Attorneys

A probate sale can have stringent legal requirements that should be handled by an experienced real estate agency. Failure to follow probate requirements can create complicated issues for the estate of the deceased and the potential buyer.

At Team 805 Real Estate, we have worked with numerous probate attorneys ensuring meticulous efficiency in the sale of a property subject to probate. If you have property subject to probate, contact our offices at 805.341.0398 to speak directly with an experienced real estate agent.

California Law Regarding Probate Sales

California Probate Code Article 6, Sections 10300 – 10316 governs the sale of real property. It is crucial to follow the probate code when selling a decedent’s home. Failure to comply with the probate code can be detrimental to both the decedent’s estate and the potential buyer. Our licensed real estate agents will work directly with the probate attorney to get the property’s maximum amount.

Depending on the sale’s circumstances, you may have to complete an appraisal, advertise the sale, and get approval from the court or go through the Independent Administration of Estates Act (IAEA).

Helping Loved Ones Through the Unimaginable

Few of us ever expect to go through probate. We can scarcely imagine the death of a family member, let alone having to go through the legal process of selling their property, distributing their assets, and paying their creditors.

At Team 805 Real Estate, we understand how difficult this time can be. We know that more than anything, you want someone who can provide guidance throughout this process. Our knowledgeable probate sales agents will always be your advocate and your voice during this challenging time.

Probate FAQ

Decedent – Decedent refers to the person who died.

Decedent’s Estate – A decedent’s estate refers to all of a person’s real and personal property (assets) that they owned when they died.

Heir – An heir is a person who has a legal right to inherit from a person who dies without a will.

Intestate – The legal term for when someone dies without leaving a will.

Living Trust – A living trust is created during a person’s lifetime, which designates a trustee (who then holds legal possession) to distribute their assets and property to a beneficiary.

Testate – The legal term for when someone dies and leaves a will.

What does a probate court do?

In California, a probate court is responsible for several matters, including determining whether there is a will and if the will is valid. A probate court will also decide who the decedent’s heirs or beneficiaries are and how much the decedent’s estate (real and personal property) is worth. 

Next, the probate court will help allocate payments to cover the decedent’s debts and expenses. Finally, the court (through an executor or administrator) will distribute the remainder of the estate to the decedent’s heirs or beneficiaries.

Do I need a real estate agent for a probate property?

It is highly recommended that you hire a real estate agent who is familiar with probate and can help ensure that the property is sold in accordance with California probate laws. At Team 805 Real Estate, our agents have extensive experience selling properties that are subject to probate. 

 We help streamline the sale, working with your probate attorney to ensure that it goes smoothly. We are proud to have a certified probate expert (CPE) on staff to assist you in this stringent legal process.

Who will be the executor or administrator of a decedent’s estate?

If a person dies with a will, the executor will be named in the will. If a person dies without a will, the court will appoint an administrator. The court gives a priority list for who should be named administrator, beginning with a surviving spouse or domestic partner and the decedent’s children.

How much does probate cost?

It depends on whether you hire an attorney to assist in the process. Probate attorney fees are set by statute in California. According to Probate Code 10810, an attorney may receive compensation based on the value of the estate as follows:

  • 4% on the first $100,000;
  • 3% on the next $100,000;
  • 2% on the next $800,000;
  • 1% on the next $9,000,000;
  • .5% on the next $15,000,000; and
  • A reasonable amount to be determined by the court for all amounts above $25,000,000.

In addition to attorney fees, there may be court fees, filing fees, and costs related to the sale of real property. 

Does an estate have to go through probate?

Maybe, depending on the situation. There are ways for people to avoid probate or have certain assets avoid probate in California, such as setting up a living trust prior to their death or when a house is owned in joint tenancy with a right of survivorship. 

Additionally, California allows for a simplified procedure for estates that are less than a certain amount. You should always consult with an experienced estate planning attorney about your legal options.

Understanding Probate Sales

The sale of a property subject to probate is different from the regular sale of a home. It is vital to work with a knowledgeable real estate agent that has extensive experience listing probate properties. We specialize in getting probate properties sold quickly at no out of pocket cost to the decedent’s family.

Contact Team 805 Real Estate at 805.341.0398 to get more information about probate sales and the specific requirements under the California Probate Code.