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Probate and Property With a Lien
Author Michael B. Furman
If the property I want to probate has a lien on it will I have to wait for the lien to be lifted before I can start probate.
No. You probate the assets of the decedent’s estate. But, you will need to resolve the lien before you can close probate. In other words, you open probate with the assets on hand. If an asset has a lien against it (e.g. a mortgage), during probate you will need to keep the mortgage current until the asset is distributed to the beneficiary (in which case, he or she will need to keep the mortgage current), or until the property is sold. At the close of escrow, the mortgage lien will be extinguished because the loan will be paid off.
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California Estate Planning Attorney, Michael B. Furman has extensive experience providing Estate Planning to clients throughout San Diego and Southern California. If you need assistance or know of someone that needs Estate Planning please call Michael B. Furman for a free consultation at: (858) 592-9493.