Probate Process

The Probate Process

An overview of what to expect while selling real estate during probate.

Probate Process Overview

Probate Real Estate Sale Overview

Start

File Petition for Probate

Notice of 1st Court hearing date published in newspaper.

5-6 Weeks

Hearing Date

2 Months

Letters Issued By Court

Order for Probate
Duties & Liabilities
Issue Bond

Gather assets
File Inventory & appraisal form
Notice to creditors
Allowance/rejection of creditors claim

Months 3-6

Full Authority Sale (IAEA)

  • Interview qualified probate agent/broker
  • Determine list price (no court limitation)
  • Execute listing agreement
  • Market the property
  • Execute probate purchase agreement (acceptance of offer)
  • Distribute Notice of Proposed Action - 15 days
  • Open Estate Bank Account
  • Close Escrow

Months 6-12

Limited Authority Sale (IAEA)

  • Interview qualified probate agent/broker
  • Determine list price (according to 90% Rule)
  • Execute listing agreement
  • Market property
  • Notice of Sale
  • Execute probate purchase agreement (acceptance)
  • Report of sale & petition for Order Confirming Sale
  • Notice to buyer, beneficiaries, interested parties
  • Court hearing and over-bidding process (10% min. overbid deposit)
  • Court order
  • Close escrow

9 Months

Petition for Final Distribution

10 Months

Court Hearing

1 Year

Receipt on distribution
CASE CLOSED

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