Probate Requirements

WITH RESPECT TO THE DECEDENT MENTIONED IN THE VESTING:

  1. IF FULL AUTHORITY TO ADMINISTER THE ESTATE HAS BEEN GRANTED UNDER THE INDEPENDENT ADMINISTRATION OF ESTATES ACT (PROBATE CODE SECTION 10400 AND FOLLOWING):
    • THAT A COPY OF LETTERS OF ADMINISTRATION OR LETTERS TESTAMENTARY REFLECTING SUCH AUTHORITY, CERTIFIED BY THE CLERK OF THE COURT WITHIN 30 DAYS PRIOR TO THE CLOSING OF THE CONTEMPLATED TRANSACTION, BE RECORDED IN THE PUBLIC RECORDS.
    • A COPY OF A NOTICE OF PROPOSED ACTION MEETING THE REQUIREMENTS OF PROBATE CODE SECTION 10585, TOGETHER WITH SATISFACTORY EVIDENCE THAT SUCH NOTICE WAS MAILED OR PERSONALLY DELIVERED AS REQUIRED BY PROBATE CODE SECTION 10586.
    • SATISFACTORY EVIDENCE THAT NO OBJECTION TO PROPOSED ACTION WAS RECEIVED BY THE PERSONAL REPRESENTATIVE PRIOR TO THE CLOSING OF THE CONTEMPLATED TRANSACTION.
    • SATISFACTORY EVIDENCE THAT ANY STATE OR FEDERAL ESTATE TAX ARISING BY REASON OF THE DEATH OF THE DECEDENT HAS BEEN PAID.
    • OTHER REQUIREMENTS WHICH THE COMPANY MAY IMPOSE FOLLOWING ITS REVIEW OF THE MATERIAL REQUIRED HEREIN AND OTHER INFORMATION WHICH THE COMPANY MAY REQUIRE.}
  2. IF FULL AUTHORITY TO ADMINISTER THE ESTATE HAS NOT BEEN GRANTED UNDER THE INDEPENDENT ADMINISTRATION OF ESTATES ACT (PROBATE CODE SECTION 10400 AND FOLLOWING):
    • THAT A CERTIFIED COPY OF A FINAL, UNAPPEALABLE ORDER CONFIRMING THE CONTEMPLATED TRANSACTION BE RECORDED IN THE PUBLIC RECORDS.
    • SATISFACTORY EVIDENCE THAT ANY STATE OR FEDERAL ESTATE TAX ARISING BY REASON OF THE DEATH OF THE DECEDENT HAS BEEN PAID.
    • OTHER REQUIREMENTS WHICH THE COMPANY MAY IMPOSE FOLLOWING ITS REVIEW OF THE MATERIAL REQUIRED HEREIN AND OTHER INFORMATION WHICH THE COMPANY MAY REQUIRE.

Leave a Comment