Legal Question in Wills and Trusts in California
California probate
My father who has past, left no will so his estate went into probate. There is property that is income property that involves a lease agreement. Until that lease agreement is up the property is worth a 1/3 of what it is worth. The property has a court lien against it by a creditor do we have to sell now to pay creditor or can we stay in probate until the lease it up and the value goes up?
3 Answers from Attorneys
Re: California probate
Has the creditor filed a creditor's claim against the estate?
I assume you have an attorney handling the probate. You should really discuss the situation with him or her.
Re: California probate
Even if he left a will the estate would go into probate. If the judgment is a lien, it will have to be paid before the property can be sold, as a practical matter. If it is not a lien, i.e. recorded, the judgment creditor can proceed against any assets it can find of the judgment debtor, presumably your father. When property is in probate is still his estate and subject to claims, attachement, etc. If the estate is in probate you should have an attorney representing the Administrator of the Estate. If you don't hire one. The type of advice you seek can best be handled by the attorney representing the estate.
Re: California probate
you can wait a little while but their is no guarantee the value will increase. btw, the lease can be broken.
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