Hello,
I just inherited property, real estate and personal, in Lake County. The property was evaluated a few months ago and valued at $120,000., the personal property will not amount to that much so I could use the small estate procedure. However, I am somewhat confused in my research it keeps saying it can't be used for real estate valued over $50,000. but then in another section it says as long as the estate, both real property and personal do not go over $150,000. you can use the small estate procedure where I would use an Affidavit to transfer the real property into my name. Can you clarify whether I can use the Affidavit procedure or Petition procedure.
Thank you so much for any help.
Answer
You are advised to obtain the services of a probate attorney to assist you in this process, either in Lake county or the count in which you reside.
Answer
You are mixing up two different procedures. There is a procedure to transfer personal property (not real estate) to the heirs when there is no probate pending. That applies to personal property held by third parties that belonged to the deceased. That procedure is contained in Probate Code sections 13100-13116.
Real estate that is valued less than $150,000.00 may be transferred, but it is with different forms and procedures. I do agree with Mr. Waid that you should seek the assistance of a probate attorney to help you.
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