Risks Of A Limited Authority In Probate

Asking The Court For A ... Full Or Limited Authority?

Dealing with probate when the court’s authority is full is simpler. Request the judge for full authority on behalf of your family.

It’s important to refrain from suspecting the capability of the executor or the administrator. (the main reason people and court have the oversight, i.e., limited authority). Even if the PR (personal representative) has a questionable past, legal avenues exist to address those concerns. Unfortunately, I cannot offer you legal advice, but your probate attorney will.

Consider the following: what is better?

Less or more time to close the probate sale?
Less or more hassles & delays in the process?
Less money or more in your pocket?

Closing Probate With Full Authority:

Probate with Full Authority: Ask me for a listing presentation to better understand the terms, conditions, and timelines, making it easy for yourself and your family. With full authority, you need only three documents to close the escrow after selling the property in California.

Order for probate (DE-140)
Letters (DE-150)
Notice of proposed action (DE-165)

Closing Probate with Limited Authority:

Court Confirmation
Must Sell for at least 90% of the value established by the court referee.
Extra Court Filling fee ($465.00)
Additional newspaper publication fees and time delays.
Added Attorney fees
The prospective buyers need to put down 10%down payment.
Many more delays and conditions apply.

Once the Petitioner gets permission to settle the estate, the process of selling real estate begins. Here, the Petitioner receives permission from the Court with full authority or limited authority.

Other Factors Apply For The Limited Authority

As of April 2024, the market is hot for sellers, especially in Orange County, CA. What assures you the market conditions can’t flip in a day? Act now!
Why would you want to sell the property for 90% of the established value of the probate referee when you can have a dozen competing offers for your property? Do you know the probate referee drives by to appraise the property? It is your job to watch the financial interests of the estate.
You need to focus on the offered amount for your property, not the 10% down payment and DPA programs a buyer can use; that is a lender’s job. As a mortgage loan originator, I know their deep pockets and what programs can help you get the most from a buyer.
Investors are waiting for the opportunity to buy your probate property for a low price. What is a better choice, more money or less? Let the capable, qualified, and competitive buyers offer you the best offer they can make.
The longer your property stays active on the MLS, the more its CDOM (Cumulative Days on the market) will increase, tarnishing its reputation.
More attorney involvement means more proceeds go to the attorney and the administrator or executor. Focus on what preserves the estate’s value.

Selling a probate property for the first time has more implications than a regular sale. Most PRs and heirs need to be made aware of where they are leaving money on the table. I will hold your hand and guide you through the process to make it more profitable and less painful.

Let’s connect. I promise I will be your powerful partner.