Legal Question in Wills and Trusts in California
Selling Assets & Closing Steps
A house is the only asset of the estate which is being sold through a regular commercial broker rather than going through a Probate sale in court.
After the court gives full independent authority to the executor to sell the house what steps need to be done to complete the sale of the house? Are there any notification/publishing requirements? Any further need for court approval?....etc.?
After the sale, what needs to be done to close probate?
Thank you
1 Answer from Attorneys
Re: Selling Assets & Closing Steps
The "Notice of Proposed Action" has to be sent to beneficiaries affected by the sale, at least 15 days before the sale closes.
If all other requirements of probate have been met (inventory and appraisal, notice to creditors, notice to county assessor, notice to Department of Health Services, all taxes/bills/expenses paid), and four months have passed since letters testamentary (or letters of adminstration) have been issued, you can file the final accounting/petition for distribution, which asks the court to bless your actions and close the estate.
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