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Re: Question About Specific State Approval Of Your New Probate System
Re: Question About Specific State Approval Of Your New Probate System -- Robert Blake Post Reply Top of Thread Forum

Posted by: Scott Rister
04/03/2003, 08:10:57

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Robert,

Thanks for your reply and that is a very prudent question. The question you pose is a little confusing to me as you stated that supposedly some state laws disqualify an individual acting in the capacity as "Independent Administrator".

That poses more quaestions in answering as I do not quite know if you're referring to the person in this situation as the investor OR the person directly responsible for facilitating the probating of an estate. Hopefully I can answer this to your satisfaction, however I can not answer for Pennsylvania law or any law from a position of authority.

What I can answer though from a position of personal experience is that it boils down to this: estates have properties and assets that need to be sold for "investor friendly" prices/terms because of time and legal factors. In some states the person assisting to facilitate the probating of the estate with the family's best interest in mind is called a "Personal Representative" and "Executor" in other states.

In summarizing to answer your question when truly motivated sellers through the Probate process are located, then "detaching" that property from the estate with clear title is the key. At times I've had to get court authorization for the heirs and/or personal representative to sell the property but this is a hurdle and not a mountain to overcome. In completing these tasks that is how I do and personally teach to have the "team" around you to make sure you've got all bases covered.

I hope that answers your question to a large degree. Make no doubt that some of the most motivated sellers you'll ever come across are within the arena of Probate. My course shows key marketing aspects to get you front and center for those deals and how to work out the details to get those deals on the closing table with clear and conveyable title.

Thanks
Scott


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Followups
Re: Re: Question About Specific State Approval Of Your New Probate System
Robert Blake 04/03/2003, 20:04:52 1260 bytes
Re: Re: Question About Specific State Approval Of Your New Probate System
Xenia Merton 05/02/2003, 03:09:56 160 bytes +1
Re: Re: Re: Question About Specific State Approval Of Your New Probate System
Scott Rister 05/02/2003, 08:37:08 428 bytes


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