Do You Have Right To Sell That Half Moon Bay Probate Home Part 3

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Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194

Half Moon Bay Probate Sale

 

As a realtor who specializes in Probate sales I have recently been involved with a number of families were trying to sell homes they thought they inherited or had title to, but wound up in Probate instead. Since the Probate courts are backed up, this can cause delays, heartache, and tension for the families and were problems that probably could have been avoided.

 

I want to say firmly, I am not a lawyer. I am a Realtor who specializes in selling homes in Probate and this is not legal advice. If you are going to be involved in intra family title changes PLEASE get the advice of a lawyer. This is complicated stuff.

 

I just want to give you a few examples so you can see that you should not assume anything when it comes to Probate sales. To see First Example click here

 

3rd Example:

 

Mom and Daughter 1 own a home together. Both are on title as Joint Tenants and own it equally. They need cash so Daughter 1 gives her share to Mom and Mom gets reverse morgage.

Mom does not make a will leaving 1/2 the house to Daughter 1 and 1/2 the house to each of the 4 daughters including daughter 1. She plans on doing it, but never gets around to it.

 

Mom dies unexpectantly, with no will, no trust, and only a verbal agreeement with Daughter 1.

 

Reverse mortgage company tells Daughter 1 she needs to sell the house or pay back the reverse mortgage. Daughter 1 can not sell the house or do anything without Probate Court permission because she does not own the house any more and there is no will or trust.

 

Daughter  1 calls me and give her a referral to a Probate lawyer who will get paid through the sale of the house since there is no cash in the estate.

 

Daughter one will ask the court to appoint her Admistrator of the estate then ask the other 3 sisters to give up the half of the equity that was supposed to go to Daughter 1.

 

Hopefully the Probate Court will agree to all of this. It is not guarenteed.

 

As you can see, these are complicated issue, made more complicated by actions taken by owners and family members before the owners died. 

 

The moral, just because you think you have the right to sell a house in probate, that does not mean you do. Be sure and consult a Probate Attorney and a Realtor who understand Probate Sales before you proceed.

 

If you have any questions about selling a home in Probate or need a Probate Realtor in Half Moon Bay or anywhere else in the Bay area please feel free to contact me.

 

Marcy Moyer

Keller Williams Realty

Specializing in Probate and Trust Sales

650-619-9285

marcy@marcymoyer.com

www.marcymoyer.com

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Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

 

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California San Mateo County Half Moon Bay
Tags:
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Rainmaker
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

One does not have to be "rich" to benefit from estate planning. It would have been easy to have avoided the situation these people found themselves in if they had had proper legal guidance.

 

Thank you, Marcy, for providing examples of what can go wrong despite good intentions of those who did not see the possible consequences of their actions.

Nov 30, 2016 07:23 AM #1
Rainmaker
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Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

You are welcome John.

You are right. In all 3 cases consulting a lawyer first would have saved a lot of money.

Nov 30, 2016 07:27 AM #2
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Rainmaker
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Marcy Moyer

Probate, Trust, and Investment Specialist
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