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Trusted Advisors
FAQ
Everything you need to know, simply explained
Probate Sales
1031 Exchange
Prop 19
A probate sale happens when a homeowner passes away and the property is part of their estate. If the home wasn’t already placed in a trust, the court may require the sale of the property to distribute the proceeds to heirs or pay debts.
The probate court oversees the process, but the executor (or administrator) of the estate is usually responsible for working with a real estate professional to sell the property. The court must approve the sale to ensure it’s fair and in the best interest of the heirs.
Yes, but probate sales often involve extra steps like court approval, potential overbids, and longer timelines. Working with a probate-certified agent ensures you understand the process and don’t risk losing the property or your deposit.
A 1031 exchange allows real estate investors to sell one investment property and reinvest the profits into another “like-kind” property — while deferring capital gains taxes. It’s a strategy for growing wealth without taking an immediate tax hit.
Not exactly. “Like-kind” simply means the new property must also be held for investment or business purposes. For example, you could sell a rental house and purchase a small apartment building, or exchange land for a commercial property.
Yes. You must identify potential replacement properties within 45 days of selling your original property, and you must close on one of them within 180 days. Missing these deadlines can disqualify your exchange.
California’s Proposition 19 is a law that allows certain homeowners — mainly those over 55, people with disabilities, or victims of wildfires/natural disasters — to transfer their property tax base to a new home, potentially saving thousands in taxes.
Homeowners 55 or older
People with severe disabilities
Victims of wildfires or natural disasters
These groups can move to a new home anywhere in California and keep (or even lower) their previous property tax base.
Yes. Prop 19 also changed the rules for children inheriting property from parents. In most cases, the inherited property must be the child’s primary residence to keep the low property tax base. If it’s turned into a rental or second home, property taxes will usually be reassessed.
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