Probate Sale vs. Trust Sale: Understanding the Differences
Many families are surprised to learn that probate sales and trust sales are not the same thing. Understanding the differences can help Executors, Trustees, and heirs make informed decisions when real estate is involved.
What Is a Probate Sale?
A probate sale typically occurs when a property is owned solely by someone who has passed away and ownership must be transferred through the probate process. The court may appoint an Executor or Administrator to handle the estate and manage the sale of the property.
Depending on the circumstances, court supervision may be required during portions of the process.
What Is a Trust Sale?
A trust sale occurs when a property is owned by a trust and a Trustee has the authority to manage and sell the property according to the trust documents.
Many trust sales can be handled privately without court involvement, allowing the Trustee to move forward according to the terms of the trust.
Which Process Is Better?
Neither process is necessarily better. Every family situation is unique. The most important factor is understanding the legal requirements and having a plan for preparing, marketing, and selling the property.
How I Can Help
As a Certified Probate and Trust Real Estate Specialist, I help Executors, Trustees, and families navigate the real estate portion of the process with professionalism, organization, and care throughout the San Fernando Valley.
Need Guidance With a Probate or Trust Property? Contact Debi Durzi for a confidential consultation.