California Probate Timeline

by kevinjones on September 9, 2015

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California Probate Timeline Realty Professionals 805-473-0300 The California Real Estate Probate process may seem very complicated but here at Realty Professionals we will make it easy for you, we will be compassionate and sensitive to your situation. We know that this can be emotional and stressful so that is why we do everything we can to make it as simple and easy for you throughout the entire transaction. We are used to working with a host of other people during the transaction including family members, heirs, attorneys, judges, etc. Here is an outline of what a probate timeline might look like:

Probate 300x168 California Probate Timeline

Realty Professionals 805-473-0300

File the “Probate Petition” at the courthouse (1st to 2nd month)
Notice of the first court hearing date published in the newspaper of general
circulation in the decedent’s resident city and notice mailed to all heirs and named
beneficiaries (Immediately after filing of the Probate Petition)
First court hearing date is held (approximately 5 weeks after filing the Probate Petition)
Issued Bond — if ordered by the judge (2nd to 3rd month)
“Letters” & “Order” appointing the Personal Representative are issued (2nd to 3rd month)
Personal Representative opens an estate’s bank account with the estate’s EIN tax identification
Personal Representative gathers all assets and inventories for safe keeping (0 to 3rd month)
“Notice to Creditors” form sent to all reasonably known creditors and the applicable
government agencies (2nd to 4th month)
Real estate properties are sold (3rd to 4th month if Full Authority is granted under the IAEA) >>>Full Authority>>>>>>Notice of Proposed Action>>>>Closed Escrow
“Inventory & Appraisal” form filed with the court (4th to 6th month) — After the probate referee has been appointed/assigned by the court
Selling Property under >>>Limited Authority >>>Must Sell for at least 90% value of the Inventory & Appraisal Form>> Court Confirmation >>>Close Escrow
“Change in Ownership Statement Death of Real Property Owner” Form filed with the County Recorder (4th to 6th)
“Claim for Reassessment Exclusion for Transfer between Parent and Child” Form filed with the County Recorder (4th to 6th) — Proposition 58. Proposition 193 Grandparent to Grandchildren
Debts are paid (4th to 6th)
Taxes paid (6th to 12th month)
Petition for Distribution is filed (8th to 12th month)
Second court hearing date for distribution (9th to 12th month)
Order signed by the judge allowing distribution to heirs (9th to 12th month)
Distribution to heirs/beneficiaries (9th to 12th month)
Receipt on Distribution from the Heirs that they received the money distribution (10th to 12th month)
Ex Parte Petition for Final Distribution and Order sign by the judge (10th to 12th month)
Case closed (10th to 12th month
Realty Professionals 805-473-0300

For more information about how we can help you with your Probate or Trust Real Estate related transactions call today 805-473-0300 Realty Professionals.