Probate Real Estate Glossary
Comprehensive definitions of probate terms, legal concepts, and real estate terminology for Orange County, California
Understanding probate terminology is essential when dealing with inherited property or estate administration. This glossary defines key probate real estate terms you'll encounter throughout the probate process in Orange County, California.
Whether you're an executor, administrator, beneficiary, or considering selling probate property, these definitions will help you navigate the probate process with confidence.
A
Administrator
A person appointed by the probate court to manage and distribute an estate when the decedent died without a will (intestate) or when no executor was named in the will. The administrator has similar responsibilities to an executor but is appointed by the court rather than named in a will.
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Affidavit
A written statement sworn to be true before a notary public or other authorized official. In probate, affidavits are commonly used for small estate procedures and to verify facts about the estate.
B
Beneficiary
A person or entity named in a will, trust, or insurance policy to receive assets from an estate. Beneficiaries can be heirs, family members, charities, or other designated recipients.
C
Conservatorship
A court-supervised arrangement where a conservator is appointed to manage the financial affairs and/or personal care of a person who is unable to manage their own affairs due to incapacity. Different from probate, which deals with deceased persons.
D
Date of Death Value
The fair market value of estate assets as of the date the decedent died. This value is used for estate tax purposes, probate inventory, and establishing the stepped-up basis for capital gains tax calculations.
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Decedent
The legal term for a person who has died. Used throughout probate proceedings to refer to the deceased individual whose estate is being administered.
Devise
A gift of real estate (real property) left to a beneficiary in a will. Personal property gifts are called "bequests."
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E
Estate
All property, assets, and debts owned by a person at the time of their death. The estate includes real estate, bank accounts, investments, personal property, and any outstanding debts or liabilities.
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Executor
A person named in a will to manage and distribute the decedent's estate according to the will's instructions. The executor must be approved by the probate court and receives Letters Testamentary as proof of authority to act on behalf of the estate.
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F
Fair Market Value
The price that a property would sell for on the open market between a willing buyer and willing seller, with neither being under compulsion to buy or sell. Used for probate appraisals and estate valuations.
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H
Heir
A person entitled to inherit property from a decedent according to state intestacy laws when there is no will. Heirs are determined by family relationship and state law, while beneficiaries are named in a will or trust.
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I
Intestate
Dying without a valid will. When a person dies intestate, their estate is distributed according to state intestacy laws rather than their personal wishes. The probate court appoints an administrator to handle the estate.
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Intestacy Laws
State laws that determine how an estate is distributed when someone dies without a will. In California, intestacy laws specify which family members inherit and in what order (spouse, children, parents, siblings, etc.).
Inventory
A detailed list of all assets in an estate, including real estate, bank accounts, investments, personal property, and their values. The executor or administrator must file an inventory with the probate court, typically within 4 months of appointment.
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L
Letters of Administration
A court document issued to an administrator (appointed when there is no will or no executor named) that grants legal authority to manage and distribute an intestate estate. Similar to Letters Testamentary but for administrators.
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Letters Testamentary
A court document issued to an executor named in a will that grants legal authority to manage and distribute the estate according to the will. Executors need certified copies of Letters Testamentary to open estate accounts, sell property, and deal with financial institutions.
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N
Notice of Proposed Action
A document required in California probate when the executor or administrator wants to take significant actions like selling real estate. Must be sent to all heirs and beneficiaries at least 15 days before the action, giving them opportunity to object.
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P
Personal Representative
A general term that includes both executors (named in a will) and administrators (appointed by the court). The personal representative is responsible for managing and distributing the estate.
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Probate
The legal process of validating a will (if one exists), identifying and inventorying assets, paying debts and taxes, and distributing remaining property to beneficiaries or heirs. Probate is supervised by the probate court and ensures proper transfer of assets after death.
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Probate Court
A specialized court that oversees probate proceedings, validates wills, appoints executors and administrators, approves estate distributions, and ensures compliance with probate laws. In Orange County, probate cases are handled by Orange County Superior Court.
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Probate Property
Real estate or other assets that are part of an estate and must go through probate court proceedings before they can be sold or transferred to beneficiaries. Property held in joint tenancy or in a trust typically avoids probate.
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Probate Sale
The sale of real estate that is part of a probate estate. Probate sales require court approval, professional appraisals, notice to beneficiaries, and compliance with specific court procedures. The sale cannot close until court authorization is obtained.
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R
Real Property
Land and anything permanently attached to it, including buildings, structures, and improvements. Real property is distinguished from personal property (movable items). In probate, real property sales require court approval.
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S
Small Estate Affidavit
A simplified probate procedure available in California for estates valued under $184,500. Allows transfer of assets without full probate proceedings, though still requires court filing and waiting periods.
Step-Up in Basis
A tax benefit where inherited property receives a new tax basis equal to its fair market value on the date of death. This eliminates capital gains tax on appreciation that occurred before inheritance. For example, if property was purchased for $200,000 but is worth $800,000 at death, the heir's basis is $800,000.
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Successor Trustee
A person named in a trust document to take over trust management after the original trustee dies or becomes incapacitated. Successor trustees can sell trust property without probate, as the trust owns the property, not the decedent.
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Superior Court
California's general jurisdiction trial court that handles probate matters, among other cases. In Orange County, probate cases are filed at Orange County Superior Court - Central Justice Center in Santa Ana.
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T
Testate
Dying with a valid will. When a person dies testate, their estate is distributed according to their will's instructions, and the named executor manages the probate process.
Trust
A legal arrangement where property is held by a trustee for the benefit of beneficiaries. Property held in a revocable living trust avoids probate because the trust owns the property, not the decedent. The successor trustee can manage and distribute trust assets without court supervision.
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