[WSBAPT] super low value RE in CA probate alternative?

[Randolph Petgrave]

Melinda,

I have had exactly this issue in a current case.  It is a fractional interest in an a real estate investment that never panned out.  The property interests were then deeded to the partners and the estate ended up with a 13% interest worth about $1,900.

Evidently there are two methods of transferring property of small value.  One is by affidavit, if the gross value of the decedent's interest does not exceed $50k.  The other is to file a petition for a court order determining succession to real property if the gross value does not exceed $150k.  In each case a California probate referee needs to be appointed and both procedures must be initiated by all parties in interest to the property.

We are using an attorney in CA who is retiring after our petition is heard in February so I can't make a referral.  Good luck.

Randy

Petgrave & Petgrave, PLLC
Attorneys at Law
P.O. Box 4142
Seattle, WA 98194-0142
Direct:   (206) 240-9148
Fax:        (206) 232-4483

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Melinda Grout
Sent: Wednesday, January 11, 2017 1:21 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] super low value RE in CA probate alternative?

Deceased owned a basically worthless lot in CA - assessed value $1,000.  Is anyone aware of whether California has a good system for transferring something like this?  Client considering just trying to "let it go for taxes" but I'm not sure if that's wise or necessary.

Thanks in advance for thoughts, experiences, or referrals.

Regards,

Melinda Grout
Law Office of Melinda K Grout, PS
17325 W. Main Street / P.O. Box 1360
Monroe, WA  98272
360-794-4322  / Fax: 425-744-6745

Emphasizing Estate Planning, Probate, and Elder Law
mkgroutlaw.com<http://mkgroutlaw.com>

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