Court Confirmation/Independent Authority
The representative of a decedent's estate may receive authority to sell the Property under the Independent Administration of Estates Act (IAEA). In order to do so, the representative must first petition the Probate Court. The Petition may be made at the time the representative is approved or any other time. Notice of the Petition is given to heirs, devisees, executors and other interested persons, any of whom may object. If IAEA authority is granted it may be full or limited. If only limited authority has been granted, the sale must be confirmed by the court. If full authority has been granted, the representative must first give a notice of the proposed sale to the devisees and heirs of the decedent and other interested parties. If no objection is received, the sale may proceed. Basically the transaction is conducted like a standard transaction without a court action. If any noticed person objects, the sale may require court confirmation. Note: A representative with full authority has the option of proceeding to court for confirmation even if not required to do so under the Probate Code.
Market the Property
After receiving court approval, the property can be listed for sale with a licensed real estate agent. It's essential to choose an agent experienced in probate sales, as they will be familiar with the unique challenges and requirements of this process.
Negotiate and Accept an Offer
When a buyer makes an offer on the property, negotiations will take place as in any standard real estate transaction. Once an acceptable offer is reached, the executor or administrator will
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