Selling a House in Probate? Don’t Sign Yet
A 58-second video on four traps when a probate estate sells a California house: letters, notice, the 90% rule and the overbid. With the transcript.
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Transcript
Dad's house is sold. Or is it? In California probate, four traps can blow up the sale. Trap one. You sign with a buyer too soon.
Nobody can sell until the court issues letters. Not even the person named in the will. Trap two. You skip the judge.
With full authority, you can. But first, you must mail the family a Notice of Proposed Action.
One objection, and it goes back to the judge. Trap three. The price is too low. When a judge approves the sale, the offer must hit at least 90% of the appraisal.
Trap four is the big one. At the confirmation hearing, a total stranger can show up and outbid your buyer. It's called an overbid.
An offer of $810,000 can lose to $851,000, right there in court. Four traps. A probate attorney can spot them before you sign.
Find the best estate attorneys at California Inheritance Law. Call today for a free consultation.
General information, not legal advice. Stories in the videos are illustrative. The rules behind each point are explained, with their Probate Code sources, in the guides linked above.
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