SIDA!
Footballguy
Probably been asked before but didn't bother to search since that is still FUBAR, I think.
Question for estate attorney/probate experts with particular emphasis on California.
My understanding is that the probate sale of real estate property occurs when a homeowner(s) dies without leaving a will. It is my understanding that the government/court intervenes and handles the disposition of the asset and then the proceeds are split between the heirs.
I have seen real estate listed for sale via probate auction. Most of the time it says "court confirmation" is required. I get that for the most part as it is my understanding that it is to ensure the property sales for the highest price and ensure the heirs get their fair share or what not.
However, some say that no court confirmation is needed. Can anyone elaborate on why one property might need court confirmation, but another might not?
Second part of the question. Assume someone dies and leaves a home to their two kids. One kid wants the home and the other doesn't. I assume one kid would have to pay the other kid for their half. Assuming the two kids do not reach an agreement on the price or value of the home, how would this then be handled?
Thanks!
Question for estate attorney/probate experts with particular emphasis on California.
My understanding is that the probate sale of real estate property occurs when a homeowner(s) dies without leaving a will. It is my understanding that the government/court intervenes and handles the disposition of the asset and then the proceeds are split between the heirs.
I have seen real estate listed for sale via probate auction. Most of the time it says "court confirmation" is required. I get that for the most part as it is my understanding that it is to ensure the property sales for the highest price and ensure the heirs get their fair share or what not.
However, some say that no court confirmation is needed. Can anyone elaborate on why one property might need court confirmation, but another might not?
Second part of the question. Assume someone dies and leaves a home to their two kids. One kid wants the home and the other doesn't. I assume one kid would have to pay the other kid for their half. Assuming the two kids do not reach an agreement on the price or value of the home, how would this then be handled?
Thanks!
