Probate and Foreclosure: How we saved a house for the heirs.
I was approached by a young man whose grandmother had
passed away a couple of years before. Having returned from
military service, he moved into his grandmother’s empty home.
After he had moved in, he found papers posted at the house
announcing a foreclosure sale. He talked to a real estate agent
who, in turn, talked to a title company representative who
recommended Asher Levin as an experienced Probate Attorney in
the San Fernando Valley.
After the initial contact, we agreed
that I would approach his family and explain to them that this
house had significant equity that could be saved (and divided
among the heirs) if we filed for probate. In the meantime, I
contacted the lender, who was unable to locate its file
(although I provided it with grandma’s name and social security
number as well as the property address). The company handling
the foreclosure sale refused to provide any information because
no one had been appointed to represent the estate.
One of
decedent’s sons agreed to serve as the court appointed
Administrator of the estate. Due to the scheduling of a
foreclosure sale, we could not afford to wait the 30 – 35 days
for a hearing on a permanent appointment. Therefore, we filed
and obtained letters of temporary administration. We were then
able to: obtain the necessary information from the foreclosure
company; cure the default; obtain permanent Letters of
Administration; sell the house; obtain court approval of an
accounting and distribute better than $160,000 to the heirs.
Without our experience as a Probate Attorney and our tenacity,
this house would have been lost to foreclosure. .
