With home sales continuously declining in May 2022, the probate real estate market is inevitably feeling its effect. In the US, unsold existing home inventory rose to nearly 1.2 million by the end of the month. When considering the present national market and the complexities of selling probate real estate properties, seek professional services. Learn the probate sales law working beside a Los Angeles trust real estate broker with legal experience. Understanding the selling process of real estate and the probate court is essential to successfully selling descendants’ properties.
A Los Angeles Trust Real Estate Broker You Can Trust
Working with Michael Millea, a real estate broker, can help beneficiaries sell complicated real estate properties of any type. For over 25 years, Millea worked as a State Attorney and LA trust real estate broker. Serving clients in Greater Los Angeles, South Bay, and Torrance, Millea has years of experience getting the best possible property deals. If you and other beneficiaries or heirs have an interest in probate commercial, investment, or residential properties, email us for more information. Mike Millea has the expertise in probate and trusts real estate law and the credentials with a proven track record.
Two Options For Selling Probate Real Estate Properties
When selling trust real estate in California, a trust real estate agent in Los Angeles has two options, with a trustee or without a trustee. After a trustee sells the real estate property, the funds from the sale go into a trust. In order to close probate real estate deals, the trustee, buyer, and beneficiary must agree with the terms. The without a trustee option can only occur when there is nothing, such as a clause preventing the transfer of title to the beneficiary. Once the trustee completes the transfer, the beneficiary becomes the owner of the real estate and can proceed to work with a trust real estate broker.
Probate is legally a court case to determine the validity of a will and the heirs and beneficiaries of a descendant. The probate court is responsible for supervising the case for collecting a descendant’s assets and paying expenses and debts. Considering the proceedings and the time to sell a probate property the entire case can last from nine months to over a year.
Hire Mike Millea, a trust real estate agent in Los Angeles, to protect and help you get the best deal despite the current national real estate market. Contact us directly by calling (310) 939-9356 or (310) 880-6634 or visit online for additional information about selling probate.