What if the small cost of title insurance could guard your most significant investment against unforeseen claims?

On today’s episode of Probate Notes, Sam sits down with Kevin Sayles, Vice President and Probate Expert at Lawyers Title, to unravel the intricacies of real estate title insurance. Kevin shares his journey from banking and lending to becoming an industry leader in title insurance, where he emphasizes the critical role this insurance plays in protecting property rights. Despite its relatively minor expense, title insurance is a cornerstone in safeguarding against claims, such as easements or leasehold rights, that could have long-lasting impacts on property ownership.

Dive into the world of probate real estate transactions, with a particular focus on California's unique processes. Kevin and Sam explore how title companies ensure the legitimacy of transactions and why verifying seller identities is crucial. We dissect the complexities of probate sales, highlighting the necessity of court documents and death certificates, as well as the distinctions between full and limited authority under the Independent Administration of Estates Act. Their conversation also addresses issues that arise when deeds do not align with court orders, emphasizing the importance of amendments and certified court orders for a smooth property transfer.

Explore the challenges presented by unrecorded deeds and missing legal documents, including trusts and powers of attorney. Through real-life examples, Kevin illustrates the painstaking diligence required to trace lost documents and maintain the integrity of estate management. Kevin and Sam delve into the critical distinctions between record and marketable titles, particularly concerning the impact of mental incapacity on deed validity. Finally, the episode highlights potential risks, such as Medi-Cal recovery liens and creditor issues, and encourages listeners to stay informed and proactive about probate processes.

Tune in to gain valuable insights and ensure peace of mind as you navigate the complex terrain of real estate title challenges.

In this episode, you will hear:

• Introduction to real estate title insurance with insights from Kevin Sayles, exploring his journey from banking to title mastery
• The critical role of title insurance in protecting property rights and safeguarding against claims like easements and leasehold rights
• Complexities of probate real estate transactions in California, focusing on verifying sellers and the role of court documents and personal representatives
• Challenges with unrecorded deeds and missing legal documents, emphasizing the importance of due diligence and maintaining original documents
• Distinction between record and marketable titles, and the impact of mental incapacity on property deeds
• Navigating probate real estate challenges, including Medi-Cal recovery liens, IRS obligations, and creditor issues
• Importance of proactive strategies in managing probate processes and securing property deals

Resources from this Episode

laltic.com/kevinsayles-1

The 6-Stage Probate Process: How to Navigate California Probate: https://a.co/d/82310Rw

Follow and Review:

We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

On today’s episode of Probate Notes, join Sam for an eye-opening discussion with Tanis Kluever, a senior account executive from Commercial Loan Corporation (CLOANC), who specializes in the niche field of probate and irrevocable trust loans.

Have you ever wondered why major banks steer clear of these types of loans? Tanis shares her fascinating journey from managing restaurants to becoming a key player in the real estate lending industry. Her passion for helping people navigate the complexities of probate shines as she explains how these unique loans rely heavily on property collateral rather than personal credit guarantees. Sam and Tanis explore the specific criteria and types of properties eligible for these loans, including the intriguing concept of the 65% loan-to-value comfort zone.

Sam and Tanis also venture into the practicalities of managing loans within estate settlements, offering invaluable guidance for fiduciaries and administrators. Tanis unveils how beneficiary loans can be a lifeline for covering probate costs, preventing foreclosure, and addressing creditor debts when cash is short. Discover how these loans help balance asset distributions, allowing heirs to retain cherished properties without sacrificing low property tax rates under Proposition 19. Sam and Tanis stress the need for homeowners insurance and current property taxes, guiding you step-by-step through the understanding and securing of loans tied to trusts.

As a neutral third party, Sam and Tanis aim to empower families to make well-informed financial decisions, offering our insights without charging consultation fees. Don't miss this chance to gain expert knowledge on navigating the intricate world of estate and probate lending.

In this episode, you will hear:

• Introduction to specialty lending in California probate with expert Tanis Kluever from Commercial Loan Corporation
• Tanis's career transition from restaurant management to real estate lending
• In-depth discussion on probate and irrevocable trust loans, focusing on collateral over personal guarantees
• Explanation of beneficiary loans and their role in addressing foreclosure risks, probate expenses, and creditor debts
• Maintaining low property tax bases under Proposition 19 and balancing asset distribution among heirs
• The necessity of homeowners insurance and keeping property taxes current for securing estate loans
• Real-world examples and strategies for using probate loans to resolve complex estate settlement scenarios

Resources from this Episode

cloanc.com/tanis-kluever-trust-loan-specialist

Follow and Review:

We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

Justin Fautsch, a vibrant force in the real estate realm, joins Sam on Probate Notes and unfolds his fascinating transition from the medical device industry into co-founding Vimvi Real Estate.

With a journey that started at the University of Iowa and led to the bustling streets of Los Angeles, Justin reveals his passion for leadership and entrepreneurship. Alongside his business partner, Mark MacFarlane, Justin shares the story behind the name Vimvi, which embodies energy and a sense of direction, and explains their unique choice of a hummingbird logo to symbolize their dynamic approach. Gain insight into the challenges and triumphs that accompany the pursuit of financial stability and personal fulfillment across shifting professional landscapes.

The exploration doesn't stop at Justin's story. Sam and Justin navigate the specialized niche of trust and probate real estate in Los Angeles and Riverside counties, examining the strategic edge that a partnership with legal expertise offers in this field. By honing in on sell-side transactions, Justin explains how time is managed and operations are scaled, even as California's competitive market poses challenges for the buy-side. We reflect on the intricate dance of wealth formation and preservation, underscoring the value of empathy in facilitating the transfer of wealth through real estate. Inspired by popular real estate principles, Sam and Justin emphasize the importance of laser-focused efforts, time management, and consistent follow-up to achieve success in this demanding arena.

The episode delves further into the complexities of real estate transactions and estate sales, particularly in the contexts of probate and trusts. Justin shares the typical commission structures and the potential impact of sellers’ decisions on buyer broker commissions. Sam and Justin dissect the nuances of preparing properties for sale, often cluttered or in disrepair, highlighting Vimvi's expertise in handling such challenges with care and respect.

From tackling sentimental items to coordinating estate sales, Sam and Justin’s conversation provides practical insights into navigating the intricate world of California real estate, demystifying the myths perpetuated by reality TV, and offering guidance on successful property investments.

In this episode, you will hear:

• Transition from medical devices to real estate entrepreneurship with Justin Fautsch
• Co-founding Vimvi Real Estate and the significance of its name and logo
• Specialization in trust and probate real estate in Los Angeles and Riverside counties
• Strategies for managing sell-side transactions and scaling operations
• Challenges and opportunities in California's competitive real estate market
• Insights into real estate transactions, estate sales, and commission structures
• Advice on property renovation, flipping, and navigating California's laws

Resources from this Episode

www.vimvi.com

Follow and Review:

We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.