Petition to Determine Succession to Real Property in California – Ainer Fraker (800) 775-7612 – may replace the full probate process for estates less than $150,000.
In our prior posts, we discussed why Avoiding Probate is an excellent idea.
We also discussed how certain Assets Not Subject to Probate can avoid the Probate process, in certain circumstances.
An earlier post discussed the California Small Estate Affidavit procedure, whereby personal property assets less than $150,000 could be disposed of without court supervision.
As of January 1, 2012, the California Probate Code was amended to include real estate less than $150,000 in the California Small Estate process. This new rule applies retroactively to all Estates filed after January 1, 2012, no matter when the Decedent died.
California Probate Code Section 13150 et seq. allows for a Petition to Determine Succession to Real Property (and Personal Property) for estates of $150,000 or less.
Unlike the California Small Estate Affidavit Procedure, listed in California Probate Code Section 13100 – which is an affidavit-based process that is entirely free of court supervision, the process for Real Estate enumerated in this Section does require filing a Petition with the Probate Court.
However, the process described in California Probate Code Section 13150 et seq. is NOT a full probate, and is far less expensive and usually far quicker than a full probate.
Contact an Attorney with Ainer and Fraker today to discuss the Probate Code requirements for the Petition to Determine Succession to Real Property in California.