What happens if a person dies with property but no family or Will?
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What happens if a person dies with property but no family or Will?
The person owned land and home free and clear. Can the county guardians. without public notification or any notification at all, sell deceased person’s assets to a private buyer? It’s my understanding that property will be sold in a public sealed bid auction with bidders having opportunity to view and counteroffer on winning bid. Then winning bidder has final right or refusal to counteroffer on highest counteroffer.
Asked on June 9, 2012 under Estate Planning, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If a person passes without any Will, trust or family members, his or her estate is administered by the County Counsel in the county where the deceased resided. The court then issues an order where all creditors are paid and the assets of the estate are then auctioned off per code.
The monies generated are then given to the state where the person resided to be held for a certain period of time.
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