Conservatorship is designed for the protection and benefit of the conservatee. If funds are required for the conservatee’s care, it may become necessary to sell the conservatee’s home.
The sale of real property through a conservatorship proceeding can be a bumpy ride if the conservator, the conservatee or the real estate agent is unprepared. Here are some common pitfalls in the process:
- Not realizing that selling the conservatee’s property requires court approval
- Not being prepared for the length of time approval may take (courts do not like moving people out of their homes; sale is usually seen as a last resort)
- Not publishing timely legal notice in appropriate publications
- Not getting the property reappraised for sale
- Not selling the property ‘as-is’ or failing to disclose defects or damage to the property (not surprisingly, sellers often want to make improvements to maximize their profit)
- Not having a place for the conservatee to go if he/she is still living in the residence
The terms regarding the sale of real property through conservatorship are very specific under California Probate Code. Visit these pages to learn more about conservatorship and about selling property under conservatorship or contact The Sanborn Team and ask us! 310-777-2858
HI Sanborn Team,
I would like to buy my grandmother’s home. I am the conservator and the people around me are saying it is not possible to buy her home. Is this true? How can I buy her home?
Thanks for your inquiry. While we contacted you directly with the answer, we’re posting it here, too, in case someone else might have the same question. The Sanborn Team recommends that you contact the lawyer who is representing the conservatorship. This is really a legal matter rather than a real estate issue.