What’s the Difference Between a Probate and a Conservatorship?
As we discussed in our last 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 that post, we discussed the role the conservator plays and how, in California, the conservator acts as a fiduciary, who is a person that manages property for another a person with a legal responsibility involving a high standard of care.
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 conservatorships 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 legal aspects of a conservatorship, as well as making sure the conservatee (the person who is unable to manage their affairs) is comfortable with the work being done on their behalf. We like to involve them somewhat if they are at all able. It makes them feel like they’re still useful, even if they cannot make final decisions. It’s more human.
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. Many times, as probate or conservatorship situations arise, it is necessary for our team to deliver in-house eviction counseling.
We are also 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 helps our clients arrange for professional [Bespoke do you still use them? Want to name them?] staging and design. We work with the conservator and our expert marketing personnel to leverage social media, including planning for targeted local exposure.
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.
Bottom Line
A probate sale and a conservatorship are not very different. The courts are involved in both. The probate sale or conservatorship sales process is long and complicated. It can easily take up to a year for a conservatorship or probate sale to go through from beginning to end. You need someone to hang in with you. The CREM Group specializes in the real estate probate sales process from soup to nuts, as they say. We’ll buy the dessert and coffee when it’s all done.
It’s not glamorous, but it is good stuff to know.
As always, contact us by email here if you have any questions about real estate, probate real estate, conservatorship, or trust real estate properties, especially in Los Angeles and Orange Counties in California.
Mark Cianciulli / mark@cremgroupre.com
Daniel Taylor / daniel@cremgroupre.com
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.
COVID-19 Safety As all of us at the CREM Group real estate market and sell our inventory of probate, trust, and conservatorship homes for our clients, we adhere to the COVID-19 regulations set by the California Association of Realtors
