Probate - Estate Appointment Terminology - help?

[Allen Seto]

Hi Folks,

I have been down to the courthouse in my city and was able to pull some probate files that I hope can generate leads for me.  I have a question regarding some of the terminology.  On the application document, under the heading VALUE OF ASSETS OF ESTATE, it will list ($ amounts are an example):

PERSONAL PROPERTY: $500,000

REAL ESTATE, NET OF ENCUMBRANCES $275,000

TOTAL $775,000

Can someone please tell me (in simple terms if possible) what each of these means? 

Would PERSONAL PROPERTY indicate cash and other assets (i.e. non real estate)?  And a value listed under REAL ESTATE, NET OF ENCUMBRANCES indicate that there is a property potentially available for sale?  And what exactly does NET OF ENCUMBRANCES mean?

If under REAL ESTATE, NET OF ENCUMBRANCES it lists $0...does that indicate that this probate case has no real estate properties involved and I should ignore that particular file as a potential lead?

I find in the probate files I have gone through, that the last known address of the deceased is typically a retirement home.  And an address for an actual "home" is nowhere listed in the actual case file.  So I have to do some digging (direct mail, phone calls etc) to determine if there is real estate involved.

I guess what I am asking is the following:  Does a value listed under REAL ESTATE, NET OF ENCUMBRANCES typically indicate a home or property as part of the estate?  And if it is lists $0 as the value...then I should move on (i.e. don't waste any more time and/or resources on that lead).

I apologize if this is a "newbie" question....

Thanks in advance!