Probate typically involves the administration of a decedent's estat however it can be much more than just that. In CA, we use probate court to administer conservatorship and guardianship estates, most trust litigation and some trust administration and even related quiet title actions.
When someone posts a very generalized query concerning laws that are very State specific and case-by-case, I wonder if it almosts does more harm to respond, given that what we do in CA may be 180 degrees different than that of an Eastern State, for example.
In a very general way, our system provides that estates requiring court supervision also require an Order Confirming Sale (or encumber). Executors and admins who are appointed under our Independent Administration of Estates Act can sell via a Notice of Proposed Action without affirmative consent by heirs or other interested parties. However, any objection requires a court appearance to obtain Order Confirming Sale, but still no affirmative consent is required; just the judge's approval.
Your state may well be very different. While practical, CA probate law practice, legal statutes and local rules of court can sometimes be burdensome. So,I just try to make these things work in my favor (lemons into lemonade). If your state requires everyone to sign, you know that it's going to be much harder for an estate with lots of heirs to get everyone in agreement. That CAN be a beautiful thing, if orchestrated properly!
In Texas, the Personal Rep, or Executor has full authority to cash out assets. They are held accountable by the Heirs, and any stipulations in the will...but their's is the only signature necessary for title work to be done, so long as they've been granted letters Testamentary. That's why the Notice to Creditors goes out immediately afterwards.
In Texas, the Personal Rep, or Executor has full authority to cash out assets. They are held accountable by the Heirs, and any stipulations in the will...but their's is the only signature necessary for title work to be done, so long as they've been granted letters Testamentary. That's why the Notice to Creditors goes out immediately afterwards.
Hey thanks for the TX perspective Jerry. Regarding the letters of testamentary, what are they, and how are they assigned to the executor?
I purchased a property where the Admin became such when the two heirs were minors. Thus the 2 heirs, who were adults when I was purchasing the property, had to sign the contract AND deed.
Ultimately it will come down to your title co. and what they will require.
Hey thanks for the TX perspective Jerry. Regarding the letters of testamentary, what are they, and how are they assigned to the executor?
When an Estate goes through Probate, there is a process involved to name the Executor....they must apply and be accepted...that is irrelevant. The important point is that an Executor has the power to make decisions for the Estate.
That power is vested in the Executor by the Probate court granting them Letters Testamentary. Those papers give the Executor the power to cash out assets, disperse funds, do the things that may be required by the will...
Because of this, immediately after the Letters are given, the Public Notice to Creditors is published. This gives anyone who may be a creditor of the Estate an opportunity to get reimbursed by the proceeds of the Estate. It can be very expensive to die, and that's why so many times the Real Property must be sold off quickly...to pay the creditors. The Heirs only actually end up with whatever is left.
Most I know who do Probate get their leads from the Notice to Creditor.
Probate typically involves the administration of a decedent's estat however it can be much more than just that. In CA, we use probate court to administer conservatorship and guardianship estates, most trust litigation and some trust administration and even related quiet title actions.
When someone posts a very generalized query concerning laws that are very State specific and case-by-case, I wonder if it almosts does more harm to respond, given that what we do in CA may be 180 degrees different than that of an Eastern State, for example.
In a very general way, our system provides that estates requiring court supervision also require an Order Confirming Sale (or encumber). Executors and admins who are appointed under our Independent Administration of Estates Act can sell via a Notice of Proposed Action without affirmative consent by heirs or other interested parties. However, any objection requires a court appearance to obtain Order Confirming Sale, but still no affirmative consent is required; just the judge's approval.
Your state may well be very different. While practical, CA probate law practice, legal statutes and local rules of court can sometimes be burdensome. So,I just try to make these things work in my favor (lemons into lemonade). If your state requires everyone to sign, you know that it's going to be much harder for an estate with lots of heirs to get everyone in agreement. That CAN be a beautiful thing, if orchestrated properly!