The Pros Of Probate Property
Posted by Darren Daltorio | Posted on 08/28/2015
The process of probate is one in which a court will determine how to distribute property after the death of the owner. Assets can be given to heirs, which are deemed probate assets, and other assets will bypass the court process and go directly to beneficiaries, which are non-probate assets. There are significant pros to acquiring probate property, and these include:
- Dispute Resolution – Since the probate court will oversee property distribution, all estate issues are resolved within that forum. Claims are sometimes disputed and will contests can be frequent, so having a place to handle all conflicts ensures your time and money is well spent when you utilize a probate real estate broker.
- Proper Supervision – The probate court also ensures that debts are paid properly and claims resolved and distributed according to the will.
- Will Validation – There is judicial verification for all wills, so you know that the process is trustworthy and legitimate.
- Time Limit On Creditor Claims – Since the amount of time that creditors can place claims on an estate and its assets is comparably short, there is a massive benefit to the estate of a deceased individual who may be exposed to professional liability, thereby helping those who acquire his or her assets.
Mike Millea and his team understand probate property acquisition, and want you to get the most out of whatever you purchase or sell. If you have any questions or concerns, you can call us directly at (310) 939-9356, or visit our office in Hermosa Beach, California. While located in the South Bay, we proudly and diligently serve clients in and around communities in the Greater Los Angeles area, Malibu, Orange County, Ventura County, and the rest of California. We look forward to hearing from you soon, and check back to this blog often to find out more on probate and commercial real estate!