Can an administrator appeal the court's decision on the type of authority grated to administrator for letters of administration?

Business 9 views 3 answers
I am going through probate and there is only 1 real property in the estate in which the real property is over encumbered (no equity in the estate; insolvent estate) The home is going through foreclosure and the judge granted me letters of administration with limited authority...the issue is that i am opening up probate in hopes of getting a loan myself and purchasing the real property as it carries sentimental value and i want to keep it in the family. Now with limited authority, this will prevent me from purchasing the home myself as it will go though a public court auction...is there an type of motion that i can do to request the court to grant me full authority instead? perhaps a motion to appeal...has the court ever been over ruled on its previous decision based on an appeal or motion from an administrator?

Attorney Answers

3
Patricia Mayer ·
As administrator, your first duty of loyalty is to the estate. This means that you need to sell the property at the highest and best price offered. The auction is designed to get as many bids as possible. You are entitled to bid for the house along with any other interested buyers.
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Alan Armstrong ·
You need to do what is best for the probate estate. If the loans exceed the current value of the property, then you need to let it go or deed it back to the lender. The only exception would be if you could fix up the home and sell it so the estate would make money on the deal. i.e. The sales price exceeded the loan amount by more than the cost of sale plus the cost to fix it up. You may be able to buy it from the purchased at the foreclosure auction. IF ti is the bank, they will want to get it off their books. Be Sure you inform all heirs AND get their written approval BEFORE you buy it.
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William Kenneth SweeneyProbate AttorneyTemecula, CA ·
The authority to administer the estate under the IAEA can be given by the the court and is generally done when the probate proceeding is initiated but can be done at any time during the proceedings (Cal. Prob. Code §10400 et seq.). However, interested parties, including beneficiaries may legally object. This would be especially true if you intend to purchase the real property for less than the fair market value by open oral bidding (auction).
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