Can a house be saved from foreclosure in probate?

The simple answer to this question is: yes.  While foreclosure in probate are no strangers to one another, it is absolutely possible to save a house that’s part of a probate estate from foreclosure.  There are two ways for an executor or administrator to save real estate facing foreclosure in probate.  First, the executor can access cash in the probate estate to bring the loan current.  Second, if the probate estate doesn’t have enough cash then the executor can have his or her probate attorney go to court and get a temporary restraining order to stop the sale and give the executor some time to sell the real estate.

Administrator (noun):

The Administrator of an Estate is a legal term. This term refers to someone appointed by a Court to administer the Estate of a deceased person with no Will.

Executor (noun):

Person named in a Will as the person who will make sure that the instructions in the Will are followed. They are responsible for executing the Will, and are either appointed by the court or by the deceased person. They are responsible for taking care of a deceased person’s financial obligations. Financial obligations include disposing of property and paying bills and taxes. The executor must also make certain that the deceased last wishes are carried out according to the Will.

If you have any further questions about foreclosure during probate, do not hesitate to contact us. Our friendly staff is here for you to assist further assist you.

 
Scott Grossman

Scott Grossman

Attorney

The Grossman Law Firm, APC · 525 B Street, Suite 1500, San Diego, CA 92101 · (951) 523-8307
 

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