Probatepropertypro.com

Went on an Interesting excursion yesterday, which culminated in a client obtaining proof that they have water rights which run with their land. This is an absol...utely huge and valuable piece of information. In the hunt for the information, I have to give out a big Bravo Zulu to the staff at the San Bernardino County Recorders Office, Historical Archives Unit for their willingness to help, professionalism and courtesy. During the digging into historic records, we discovered the land had transferred ownership under a Land Patent in 1913, which was executed by Woodrow Wilson. Some time later it reverted back to the US Government, and a subsequent Land Patent was granted in 1936, executed by Calvin Coolidge. Both documents contained the signatures of each POTUS. Cool documents. Commencing in 1941 the land had been transferred about every 6 years, which including the current owners, there were 13 owners. We were given access to Recordation Books which the information was typed/handwritten and organized by date, grantee/grantor names, or any other documents which were recorded for multiple purposes. These books are approximately 36x36x10 and weight 40+ LBs each. These books were used to find the recorded documents by book and page number. Example: Book 1365 Pg 584. Once we had that information, we went to the microfiche cassettes to scroll through the films to find the referenced document(s). In real estate, this is in part, a chain of title. This is something which title companies look to validate as part of issuing a title insurance policy. The caveat here is that if the records are not stored digitally, the title company will almost never search beyond the digital documents. (Digital documents usually are not accessible before 1959 even though that was not in the digital age). The lesson here, is that California land records are organized and have their recorded history roots going back to the days of the Spanish Land Grants, and not based on English or French legal systems.

Probate and the Reverse Mortgage We hear a lot about reverse mortgages and how wonderful the product is for persons who are 62yrs of age or older. The one thing you don't hear about is what really happens when the property owner passes away who had taken out a reverse mortgage.... The real ugly truth is that the estate of the deceased (Pay Attention Heirs) which has a Reverse Mortgage stands nearly a 100% chance to lose that home to foreclosure! Over the past 4+yrs, I've seen lenders and loan servicers of reverse mortgaged properties become extremely aggressive in foreclosure activity. Some filing the Notice of Default (NOD) within 10 days of the date of death of the homeowner or last surviving spouse. I have also seen these same lenders racking up the fees during the foreclosure process to strip any equity from the home, thereby making any return to the estate $0.00. Especially when the Reverse Mortgage is insured by FHA. Why? Because FHA mortgage insurance will make the lender 100% whole on any losses when the property is sold at the foreclosure sale. Adding to the lender/servicer equity stripping by piling on fees, the heirs of the estate need to realize that the longer they take to reach a decision concerning the real property in the estate, the less they will inherit. It is so important when I sent you a letter about the real property held in the estate of the deceased, especially those letters with the "Foreclosure is Looming" label, that you act immediately to save the property. Call me, call someone else -- Just ACT! Smoke Tree Commercial 949-667-0322 CADRE 01135909

To learn more about Transfer On Death Deed; http://www.boe.ca.gov//proper/current/ptlg/other/5642.html

Did you know that probate may be avoided where real property is involved by using the Transfer Upon Death (TOD)Deed? This document allows the current owners of real property to designate to whom the property will transfer to upon death regarding the primary residence. This document does not supercede how title is currently held, but provides the transfer at time of last surviving owner. If the property is currently held as in Community Property with Rights of Survival (this i...s better for married persons because under the tax code allows for 100% step up basis), when one spouse passes, the property is vested in the name of surviving spouse. With the TOD in place, when the surviving spouse passes, the property will then transfer to the pre-designated heir(s) without probate. And if there is a "change of heart" by the designator(s), this document is revocable (which means the change must occur before the death of the designator(s)). This form of ownership/title is due to expire Jan. 1. 2021

Deep Discount Listing Fee

I'm often asked questions about real property and probate. Sometimes those questions lead to some interesting conversations. Keep in mind that when I answer those questions, I do so from my experience and not from the position as a probate attorney. One of the most recent questions I was ask, "Are the heirs required to list all real estate owned by the decedent, even if that property is in another state"? My experience and common sense answer to that question is most likely ...would be yes, with the caveat that each state has it's own probate statutes which need to be consulted with the following statement, due to the complexity of probate law, and more than one state where the property is located, it highly recommended you need to seek competent legal guidance. This is then usually followed by statements covering the costs of such legal representation may make the process too costly, then what? To that, I advise the heir to seek if each state has a low or no-cost advocate. In CA the probate courts do offer advocates for those who: A) can't afford a probate attorney or B) don't wish to pay for the services of a probate attorney. In either case this heir would most likely be filing as "Pro Per". A final thought, any asset (which includes real estate) of the decedent are items for inclusion for the proper and final settle of the estate of the deceased.

Most people have a burning desire to own their own land. And owning land in USA is one of the top 5 countries worldwide for the desire for ownership. The issue at hand is the affordability of most who desire to make... this dream a reality. Now it doesn't have to be a dream....I have land for sale in Arizona, California and Oregon. (Some of it's mine, most of it I represent the seller. RE Broker CA01135909). Lots from 2,500 SF to 37.53 Acres $4,000 USD to $1,250,000 USD Zoning: Residential to Commercial Terms: Cash to Seller May Carry. PM me if you are true buyer (or represent a buyer)...

Sold in 49, closed in 69 days! 3bed/2full bath, oversized 2-car garage, 1840 SF on 7504 lot.

**NEW OFF-MARKET** Probate Listing. 3bd/2ba - 2 car garage. 1841 SF/7049SF Lot Asking $189,995 (AVM 8/10/2017 $191,000)... Needs minimual TLC (flooring/paint), otherwise in good shape. Owner passed in property of natural causes. See more

NOT IN MLS-OFF MARKET. 3bd/2ba 1881 SF home Hemet, CA. Affordable lux! Ask: Less than $190,000.00 ... Features interior laundry room, built in China Cabinet, formal dining area, formal living room w/fire place, Walk-in master closet. Fruit trees in yard. Fenced rear and side yards. Quite neighbor with easy access to services.

I was asked recently why I liked probate transactions, to which I replied I meet some very interesting people going through some interesting times. I also like the ability to be able to help people find a resolution to an inherited property when it's become a reality or in most cases a nightmare which most administrators and executives are ill-prepared to handle.

Free E-Book "Lessons for Personal Representatives in the Probate Process"

NEW OFF MARKET PROBATE PROPERTY Perris, CA (Cherry Vista Dr) 4BD/2.5 BA 1407 SF/3920 SF Lot.... New dual paned vinyl windows, New AC, New Energy Eff. can lighting. Ceramic tile and high-end laminate flooring. Home has alarm system installed. Needs some cosmetic repair (inc. exterior paint) and this will be a fantastic home. Asking $257,000 (Last comp same street sold $313,000) This is a Probate Sale - No Court Approval Required! Call: 949-667-0322 Interested principals only pls.

Lessons for Personal Representatives: #1