The 833PROBAID® Glossary

ACCOUNTING

A formal record of money received, expenses paid, property managed, distributions made, and other financial activity during the administration of an estate, conservatorship, or trust. Fiduciaries may be required to provide accountings to beneficiaries or the court.

ADMINISTRATOR

A person or institution appointed by the court (in the absence of a will otherwise naming an executor) to distribute the assets according to state intestacy laws and to pay creditors and taxes. The intestate personal representative.

ADMINISTRATOR WITH WILL ANNEXED

A person appointed by the court to administer the estate of a decedent who left a will when the will does not name an executor or the named executor is unable or unwilling to serve. The administrator with will annexed is a personal representative of the estate.

AFFIDAVIT

A written statement made under oath.

AFFIDAVIT OF DEATH OF TRUSTEE

A legal document used to formally record the death of a trustee and establish the successor trustee’s authority to act. This affidavit is typically required by title and escrow in trust sales when real estate is being sold after the original trustee (often the trustor) has passed away. It is recorded with the county recorder’s office along with a certified copy of the death certificate to clear title and transfer signing authority to the new trustee.

AGE OF MAJORITY

The age when a person acquires all the rights and responsibilities of being an adult. In most states, the age of majority is 18.

AS-IS SALE (ESTATE CONTEXT)

A property SOLD in its current condition without repairs. Common in probate and trust sales. All known defects must still be disclosed, and buyers assume responsibility after closing.

ASSET

Property having economic value that is owned by an estate, trust, conservatorship, or individual. Assets may include real estate, cash, securities, personal property, and other ownership interests.

ASSIGNMENT

The transfer of legal rights from one person to another.

AUTHENTICATION

The process for verifying that the deceased’s last will and testament is valid. The probate court typically relies on witness statements when making its determination.

BENEFICIARY

A person who inherits property, money, or other benefits from a will, insurance policy, or trust.

BLOCKED ACCOUNT

A court-restricted bank account where funds from a probate, conservatorship, or minor’s settlement are deposited. Withdrawals require prior court approval. Often used to protect assets that must remain untouched until further order, distribution, or specific use is authorized.

BOND

A financial guarantee that may be required by the court to protect an estate, conservatorship estate, or other protected assets against loss caused by a fiduciary’s failure to properly perform their duties. The court determines whether a bond is required and the amount based on applicable law and the circumstances of the matter.

CAPITAL GAIN

The profit made from the sale of a capital asset, such as real estate, jewelry, or stocks and bonds.

CAPITAL LOSS

The loss that results from the sale of a capital asset, such as real estate, jewelry, or stocks and bonds.

CERTIFICATION OF TRUST

A document containing specified information about a trust, trustee, and trustee’s powers that may be used to establish the existence of the trust and the trustee’s authority without providing the entire trust instrument. In a real estate transaction, title and escrow may rely on it when evaluating the trustee’s authority to act.

CHAIN OF TITLE

The historical record of property ownership. Any gaps or inconsistencies can delay or prevent closing and must be resolved before transfer.

CHAPTER 13 BANKRUPTCY

A type of bankruptcy in which a person keeps their assets and pays creditors according to an approved plan.

CHAPTER 7 BANKRUPTCY

A type of bankruptcy in which a person’s assets are liquidated (collected and sold) and the proceeds are distributed to the creditors.

CLOUD ON TITLE

Any claim, lien, or irregularity that creates doubt about ownership. Must be cleared before escrow can close.

CODICIL

An amendment to a will.

COMMUNITY PROPERTY

Property generally acquired by either spouse during marriage while domiciled in California, subject to statutory exceptions such as property acquired by gift or inheritance. Each spouse generally owns an equal interest in community property, and ownership and distribution upon death are determined by California law, applicable estate-planning documents, and how the property is titled.

CONSERVATEE

The person who is under conservatorship, for whom the court has appointed someone to manage financial or personal affairs.

CONSERVATOR

A person or organization appointed by the court to care for an adult who cannot adequately care for themselves or manage their own finances. A conservator may be appointed for the person, the estate, or both, and may exercise only the authority granted by law and the court.

CONTINGENCY

A condition in a purchase agreement that must be satisfied before the sale can be completed, such as securing financing or obtaining satisfactory home inspections.

CONTRACT

An agreement between two or more parties in which an offer is made and accepted, and each party benefits. The agreement can be formal, informal, written, or oral. Some contracts are required to be in writing in order to be enforced.

COURT CONFIRMATION

A court-supervised process in which a judge reviews and approves a real property sale when confirmation is required, including certain probate, conservatorship, and guardianship sales. The sale remains subject to the applicable statutory requirements and the court’s confirmation order.

COURT CONFIRMATION HEARING

A court hearing at which a judge considers whether to confirm a real property sale when court confirmation is required. Qualifying higher offers may be presented and competitive bidding may occur as permitted by law. The sale is not court-confirmed until the judge approves it.

CREDITOR

A person (or institution) to whom money is owed.

CREDITORS’ CLAIMS PERIOD

Specific time frame, as defined by state probate laws, during which creditors can file a claim against a decedent’s estate.

CUSTODIAN

A person designated to hold and manage property transferred to a minor under the Uniform Transfers to Minors Act. The custodian manages the property for the minor’s benefit and must administer it in accordance with the duties and requirements imposed by applicable law.

DATE OF DEATH

The specific date and time the deceased is declared legally dead by a physician, coroner, or medical examiner. It can also be the date that an individual disappears under life-threatening circumstances.

DEBTOR

A person who owes money.

DECEDENT

A person who passed away.

DEED

A legal document that transfers ownership of real estate from one party to another.

DEFAULT

The failure to fulfill a legal obligation, such as neglecting to pay back a loan on schedule.

DEMAND LETTER (PAYOFF DEMAND)

A formal request showing how much is owed on a reverse mortgage, required before a property can be sold or refinanced.

DOCKET NUMBER

Number designation assigned to each case filed in a particular court.

EASEMENT

An agreement that allows one party access to another’s property, often used by utilities that must run phone lines or pipes under private property.

ELECTIVE SHARE

A probate law enabling a spouse to inherit a specific portion of the estate after their partner’s death regardless of a will.

EMANCIPATION

The point at which a minor becomes independent from their guardians. Emancipation can result from turning 18, proving to be entirely self-supporting, or getting married.

ENCUMBRANCE

Any claim or restriction on a property’s title.

ESCROW

Money or documents, such as a deed or title, held by a third party until the conditions of an agreement are met. For instance, pending the completion of a real estate transaction, the deed to the property will be held ‘in escrow.’

ESCROW ACCOUNT

A secure account managed by a neutral third party (like a title or escrow company) where funds and documents are held until all terms of the transaction are met — most commonly used in real estate sales during probate, trust, or conservatorship.

ESTATE

The assets and liabilities left by a decedent.

EX PARTE

Latin for ‘by or for one party.’ Refers to urgent court requests where only one party is present, usually because immediate relief is needed and waiting for the other side could cause harm or delay.

EXECUTOR

A person or institution named in a will and appointed by the court to oversee and manage an estate, including the distribution of assets and satisfaction of creditors and taxes.

FAMILY LIMITED PARTNERSHIP

A legal partnership between members of a family for the management and control of property.

FIDUCIARY DUTY

An obligation to act in the best interest of another party. For instance, a corporation’s board member has a fiduciary duty to the shareholders, a trustee has a fiduciary duty to the trust’s beneficiaries, and an attorney has a fiduciary duty to a client.

FIDUCIARY EXPOSURE

The potential legal liability a fiduciary faces if decisions are challenged as negligent or not in the best interest of the estate or beneficiaries.

FORECLOSURE

When a borrower cannot repay a loan and the lender seeks to sell the property.

FULL AUTHORITY VS LIMITED AUTHORITY (IAEA)

The level of authority granted to the personal representative under the Independent Administration of Estates Act (IAEA).

Full Authority allows property to be SOLD without court confirmation (with proper notice).

Limited Authority requires court confirmation.


This directly impacts timeline, strategy, and buyer expectations.

GENERAL CONSERVATORSHIP

A California conservatorship established for an adult who is unable to adequately provide for their personal needs, manage their financial resources, or both. Depending on the court’s order, a general conservator may be appointed as conservator of the person, conservator of the estate, or both, with powers and limitations determined by law and the court.

GRANTOR

The person who sets up a trust.

GUARDIAN

A person appointed by the court to care for a minor, manage a minor’s property, or both. A guardian may be appointed as guardian of the person, guardian of the estate, or both.

GUARDIAN AD LITEM

Latin for “guardian at law.” A person appointed by the court to represent and protect the interests of a minor or other person who is unable to adequately represent their own interests in a court proceeding.

HECM (HOME EQUITY CONVERSION MORTGAGE)

The most common type of reverse mortgage, insured by the federal government.

HECM SERVICER

The entity managing the reverse mortgage after origination. Often different from the original lender. Crucial for payoff, extensions, or foreclosure prevention.

HEGGSTAD PETITION

A California court petition used to establish that property belongs to a trust even though record title was not formally transferred into the trust. It commonly arises when the settlor’s signed trust documents or other sufficient writings identify or declare the property as a trust asset, but the deed or other record title remains in the settlor’s individual name. If the court confirms the property as a trust asset, it may be administered through the trust rather than as part of the decedent’s probate estate.

HEIR

A person entitled to inherit property of the decedent.

HEMS STANDARD

Stands for ‘Health, Education, Maintenance, and Support.’ A standard often written into trusts that limits how funds can be used or distributed to beneficiaries.

HOLOGRAPHIC WILL

A handwritten will.

INDEPENDENT ADMINISTRATION OF ESTATES ACT (IAEA)

A California law that allows executors and administrators to manage most estate matters — including selling real property — without direct court supervision, depending on the level of authority granted. If the court grants Full Authority, they can sell without court confirmation (with proper notice). If Limited Authority is granted, court approval is still required for any sale. IAEA status is listed in the Letters issued by the probate court.

INSOLVENT ESTATE

An estate in which the decedent’s debts exceed the total value of their assets, making it impossible to pay all creditors in full.

INTESTATE

Dying without a legal will.

INTESTATE SUCCESSION

The statutory system determining who inherits a decedent’s property when the decedent dies without a valid will governing that property.

INVENTORY AND APPRAISAL (I&A)

A required filing identifying property subject to administration and its appraised value. The fiduciary identifies and inventories the property, while a probate referee appraises property requiring referee appraisal under California law.

IRREVOCABLE TRUST

A trust that generally cannot be revoked or amended by the settlor after it becomes irrevocable, except as permitted by the trust instrument or applicable law. An irrevocable trust may continue to hold, manage, sell, and distribute assets according to its terms and the trustee’s authority.

JOINT TENANCY

A type of ownership arrangement in which two or more individuals own an asset together, with rights of survivorship.

JUDGMENT

A decision by a court regarding the rights and obligations of the parties involved in a legal proceeding.

LAST WILL AND TESTAMENT

The legal document that describes how a person wants their property distributed after they die.

LETTER OF INTENT

A document that explains a person’s desires regarding the distribution of their estate. It is not legally binding, but it can help guide the executor of the estate.

LETTERS OF ADMINISTRATION

A court document that gives the administrator (appointed by the court when there is no will) the legal authority to manage and distribute a deceased person’s estate.

LETTERS OF CONSERVATORSHIP OF THE ESTATE

A court-issued document establishing the conservator’s authority to act as conservator of the estate and manage the conservatee’s financial affairs. The conservator’s authority involving real property, including the authority and procedure for a sale, must be determined from the Letters together with the court’s orders, applicable attachments, and California law.

LETTERS OF CONSERVATORSHIP OF THE PERSON

A court-issued document establishing the conservator’s authority over the conservatee’s personal care as authorized by the court, which may include matters involving healthcare, living arrangements, and daily needs. Letters of Conservatorship of the Person do not, by themselves, establish authority to manage or sell the conservatee’s real property.

LETTERS TESTAMENTARY

A court document that gives the executor (the person named in the will) the authority to manage and distribute a deceased person’s estate.

LIEN

A claim or charge against property that secures payment of a debt or obligation. A lien affecting real property can affect title, sale proceeds, and the ability to close until it is satisfied, released, otherwise resolved, or handled through escrow.

LIMITED CONSERVATORSHIP

A conservatorship for adults with developmental disabilities that grants the conservator limited powers.

LIS PENDENS

A legal notice filed with the county that alerts potential buyers or lienholders that a property is subject to pending litigation. Can block or delay a sale.

LIVING WILL

A legal document that describes a person’s wishes regarding medical treatment if they become unable to communicate their preferences.

MARITAL DEDUCTION

The portion of a decedent’s estate that can be passed to a surviving spouse tax-free.

MARKET VALUE

The estimated price at which a property would sell in the current market, based on factors like location, condition, and comparable sales.

MINOR

A person under the age of majority, typically 18.

MUNIMENT OF TITLE

A will that serves as a document to prove a title to property. A court may issue a muniment of title if it finds that a will is valid and that no estate administration is necessary.

NEGLIGENCE

A failure to take reasonable care to avoid causing injury or loss to another person.

NOTICE OF DEFAULT

A recorded notice stating that a borrower is in default under a secured loan. It is a significant stage in California’s nonjudicial foreclosure process and can create an urgent deadline in probate, trust, or conservatorship real-estate matters involving distressed property.

NOTICE OF PROPOSED ACTION (NOPA)

A formal notice used under the Independent Administration of Estates Act (IAEA) to notify interested persons of certain proposed actions by a personal representative, including certain real property transactions. When required, the notice must generally be given not less than 15 days before the date specified for the proposed action, giving persons entitled to notice an opportunity to object. A personal representative with Full Authority may generally complete a real property sale without court confirmation when the applicable IAEA requirements have been satisfied, no timely objection prevents the proposed action from proceeding without court supervision, and no court order or other restriction requires confirmation.

ORDER CONFIRMING SALE

The official court order approving a probate sale. Required by title and escrow before the deed can be recorded in court-confirmed transactions. Without this order, the sale cannot close.

OVERAGE

The remaining balance after all debts, taxes, and expenses have been paid from an estate.

OVERBID PROCESS

A court-supervised bidding process during a confirmation hearing where buyers submit higher offers. This directly affects pricing strategy, buyer behavior, and the final sale price.

PARTITION ACTION

A court proceeding used to force the sale or division of property when multiple owners (often heirs) cannot agree. Common in inherited properties with family disputes.

PAYOFF STATEMENT

A statement from a lender or loan servicer identifying the amount required to satisfy a loan or other secured obligation as of a specified date. Escrow commonly uses the payoff information to satisfy the debt from sale proceeds and obtain release of the lien.

PERSONAL REPRESENTATIVE

The general term for the person appointed by the probate court to administer a decedent’s estate. A personal representative is generally either an executor named in a will or an administrator appointed by the court.

PER STIRPES

A method of distributing an estate whereby descendants inherit the share that their deceased parent would have received.

POWER OF ATTORNEY

A legal document that allows one person to act on behalf of another.

PRELIMINARY TITLE REPORT

A document issued by a title company during the listing phase showing ownership, liens, encumbrances, and legal conditions that may affect the property sale.

PROBATE

The legal process of distributing a decedent’s assets.

PROBATE COURT

A special court that handles matters relating to wills and estates.

PROBATE ESTATE

The property and assets of a decedent that are subject to probate administration. Property that passes outside probate through mechanisms such as a trust, certain forms of joint ownership, or beneficiary designations generally is not part of the probate estate.

PROBATE REFEREE

A California-appointed official who appraises property requiring probate referee appraisal in probate, conservatorship, guardianship, and other applicable proceedings. The probate referee determines the appraised value of applicable noncash property, including real property, for the Inventory and Appraisal process and other purposes required by law.

PROPERTY CONDITION DISCLOSURE

A document provided by the seller disclosing known defects, damages, or issues affecting the property’s condition.

PROOF OF DEATH

A legal document verifying a person’s death, such as a death certificate.

REAL PROPERTY

Land and things permanently attached to it, including buildings and other improvements. In probate, trust, and conservatorship matters, real property may require valuation, management, sale, transfer, or distribution.

REAPPRAISAL FOR SALE

A current appraisal by a probate referee required in specified conservatorship real-property sales when the applicable statutory appraisal period has expired. Generally, if conservatorship real property is SOLD more than one year after the conservator’s appointment, a current appraisal is required. Special rules apply to the conservatee’s personal residence, including a shorter appraisal period in connection with a court-confirmed sale. The reappraisal establishes an updated value for purposes of the proposed sale.

REFEREE VALUE (PROBATE REFEREE APPRAISAL)

The appraised value assigned by a probate referee to real property or other noncash assets in a probate, conservatorship, guardianship, or other proceeding requiring a probate referee appraisal. The referee’s valuation is used in the Inventory and Appraisal process and, when applicable, may affect statutory requirements governing a proposed real-property sale.

RESIDUARY ESTATE

The portion of a decedent’s estate remaining after payment of enforceable debts, expenses, taxes, and other charges against the estate and after satisfaction of specific gifts or devises. The residuary estate is distributed according to the residuary provisions of the will or, when applicable, according to law.

REVERSE MORTGAGE

A loan that allows eligible homeowners, commonly age 62 or older for a HECM, to access home equity without making traditional monthly mortgage payments. The loan generally becomes due and payable after specified maturity events, which may include the death of the last surviving borrower, sale of the property, permanent move-out, or other qualifying events, subject to applicable loan terms and federal protections. Often triggers urgent timelines in probate and conservatorship sales.

SPOUSAL PRIVILEGE

A legal concept that protects communications between married couples from being disclosed in court.

STATUTE OF LIMITATIONS

A law that sets a maximum time period for parties to initiate legal proceedings.

STEP-UP IN BASIS

A tax adjustment that generally changes the basis of inherited property to its fair market value as of the decedent’s date of death, although other valuation rules may apply in certain circumstances. This adjustment can reduce the taxable capital gain when inherited property is later sold.

SUCCESSOR

A person or entity that legally succeeds to another’s rights, interests, authority, position, or property. In probate, a successor may be a person or entity entitled to receive a decedent’s property under a will or the California Probate Code. More broadly, a successor may acquire an ownership interest, property right, claim, or fiduciary position from another.

SUCCESSOR IN INTEREST

A person who succeeds to another person’s interest or rights in property. In a real-estate matter involving a deceased owner, the successor’s legal authority and the documentation required to transfer or sell the property depend on how title was held and the applicable succession procedure.

SUCCESSOR TRUSTEE

A person named in the trust to take over management duties when the original trustee dies, resigns, or becomes incapacitated. The successor trustee has the authority to manage and distribute trust assets according to the trust’s terms.

TESTAMENTARY CAPACITY

The legal ability of a person to create a valid will.

TESTAMENTARY TRUST

A trust created by a will that becomes effective upon the death of the testator.

TESTATOR

A person who creates a will.

TITLE

The legal right to ownership of a property, typically evidenced by a deed or other legal documents.

TITLE CLEARANCE

The process of resolving liens, claims, or ownership issues to ensure the property can legally transfer with clear and insurable title.

TITLE SEARCH

An examination of public records to determine the legal ownership of a property and identify any encumbrances, liens, or other issues affecting the title.

TRIGGER LETTER / MATURITY EVENT NOTIFICATION

A notice sent by the reverse mortgage lender informing the estate or borrower that the loan is now due — typically after death, move-out, or default.

TRUST

A legal arrangement in which one party holds property for the benefit of another.

TRUST ADMINISTRATION

The process of managing and distributing the trust’s assets after the settlor dies, including real estate sales, debt payoff, and reporting to beneficiaries.

TRUSTEE

A person or institution responsible for managing a trust.

VACANT PROPERTY RISK

Risks associated with unoccupied properties, including insurance limitations, vandalism, deferred maintenance, and liability exposure. Common in probate and conservatorship cases.

VESTING

The manner in which legal title to real property is held, including the identity of the owner or owners and the form of ownership. Vesting affects authority, succession, transfer requirements, and the documents necessary to convey title.