Need to Sell Real Property in Conservatorship?

Posted by Techyscouts | Posted on 11/13/2024
  •  Uncategorized

    • If you are faced with having to sell real estate while it is in a conservatorship, then you need to plan accordingly. While it can be done, several rules must be followed to do so. Involving the help of a West LA trust real estate broker can be a great asset to take advantage of.

    Obtain A Court Order

    Simply put, a real estate sale cannot take place either to or from a conservatorship without an explicit order permitting the court that oversees the conservatorship. The first thing you will do is file a petition directly with the court. From there, it will review your situation. Hiring an attorney to handle this process for you is highly advised. You will need to provide the court with several pieces of information such as specifics about the property in question as well as the exact reasons you need to sell it. It is also recommended to have a trust real estate agent in Los Angeles lined up to show the court you have seriously considered this.

    Get An Appraisal

    The next thing that must be done is to get an appraisal. However, you will generally be required to get more than one, usually, the court will require you to receive two appraisals from different parties that have no interest in the property. The West LA Trust real estate broker that you hire cannot be a part of this process.

    Insurance

    While you should have insurance on any property that the conservatorship holds anyway, the court will require you to add it to the property being sold if it does not currently have it. This includes vacant property. You should consult with a trust real estate agent in Los Angeles to see who they recommend.

    Contact The Court Before Final Sale

    While the court allows you to use any West LA trust real estate broker that you choose, you cannot finalize the sale before the court signs off on the agreement. This requires you to provide the court with a copy of the agreement so that it can review it.

    Other Options

    Depending on your specific circumstances, the court may also advise you of alternative options that you have. However, this is usually just a matter of course because most people find that selling the property is the solution that best fits their needs.

    If you have real estate governed by a conservatorship that you need to sell, you need to contact the offices of Michael Millea. He can guide you through the often complicated process of selling this kind of property and do all that he can to ensure you get maximum value.

    Comments are closed.