As we discussed in an earlier blog, “What is a Conservatorship?” a conservatorship begins with a court proceeding to appoint a conservator for the financial affairs and/or the personal care of one who is either physically or mentally unable to handle either or both. In California, the conservator acts as a fiduciary, who is a person who manages property for another person with a legal responsibility involving a high standard of care. The person’s mental capacity is their cognitive ability to make a decision, and recent laws in California are adding healthcare organizations as part of people’s assessment.
Real estate held under a conservatorship is sold through the probate process. The difference is that in the case of a conservatorship, the person is still living. In a probate sale, the courts make it possible for property in the estate of a deceased person to be sold. In either case, the person who owned or owns the property will have someone else managing the transactions (marketing, showing the home, etc.) with the help of a probate realtor and sometimes a probate attorney.
Our real estate agents at The CREM Group are experts at handling conservatorship and probate sales in Orange and Los Angeles Counties. We also represent probate and conservatorship sales in Riverside and San Bernardino Counties.
We have trusted partners for handling the most recent legal aspects of conservatorship, and ensuring that the conservatee (the person unable to manage their affairs) is comfortable with the work being done on their behalf. We like to involve them if they are able. It makes them feel they’re still useful, even if they cannot make final decisions.
There is much to be done for a probate or conservatorship sale. As real estate agents, attorneys, and realtors, the owners of The CREM Group can handle more than many other real estate companies..
Help in Selling
Many times, as probate or conservatorship situations arise, it is necessary for our team to deliver in-house eviction counseling
We are always there with our tried-and-true seller services for our clients. The team handles equity enhancement (with pre-listing preparation) to maximize the return on the sale price and help our clients arrange for professional staging and design.
We work with the conservator and our expert marketing personnel to leverage social media, including planning for targeted local exposure. Our goal is for our clients to receive the most money feasible for their real property and—in the case of conservatorships—to protect the conservatee from any liabilities.
Finally, our team members will often advise that property inventory and hauling be a part of the process while also engaging in comprehensive property oversight to ensure the home is maintained and safe throughout the sales process.
The Bottom Line
A probate sale and a conservatorship sale are similar. The courts are involved in both. The probate sale (and thus the conservatorship) sales process is long and complicated. It can easily take up to a year for a conservatorship or probate real estate sale to go through from beginning to end. It would be best if you had someone to hang in with you. The CREM Group specializes in real estate probate sales process from soup to nuts, as they say. We’ll buy the dessert and coffee when it’s all done.
As always, contact us here if you have any questions about “regular” real estate—and probate, conservatorship, and trust real estate properties, especially in Los Angeles and Orange Counties in California and throughout Southern California.
Mark Cianciulli / [email protected]
DISCLAIMER: This content is meant purely for educational purposes. It contains only general information about real estate and/or legal matters. It is NOT legal advice and should not be treated as such. We recommend consulting a legal or tax professional before acting on any material, opinion, or point of view described herein.