Thursday, 9 June 2022

What Should You Know About Property Transfer After the Death of the Owner?

 

Faced with the death of someone very dear to you is an emotionally challenging experience. On top of that, when legal obligations come, things get more complex. The deceased person owned property, and now you want to sell it or transfer the title of the ownership. Now, from this moment, the real complications begin. There are plenty of scenarios that can arise, and in this post, we will look at those scenarios. You may need the help of a probatelawyer to resolve the complexities.    

Know the type of owner

The first thing you need to know is the type of owner. The deceased can be the sole owner of the property or the joint owner of the property. When a deceased is the sole owner of the property, two primary scenarios can occur, and when the deceased is the joint owner of the property, then also two primary scenarios can occur.

When the deceased is the sole owner of the property

If the deceased is the sole owner of the property, the property must be distributed to the beneficiaries by the executor or the administrator of the estate. Now two situations can occur: the deceased has left a will, and the deceased has not left a will.

When the deceased has left a will, the executor has to apply to the court for a grant of probate. Once you have it, you proceed with the property distribution as per the will.   

When the deceased has not left a will, the deceased’s next of kin must apply to the court for a grant of letters of administration. It serves the same purpose as the grant of probate. The only difference is when you have it, the property is distributed according to the rules of intestacy. 

When the deceased is joint owner of the property

A deceased can be the joint owner of the property in two ways: joint tenancy and tenancy in common. In the joint tenancy, all co-owners own the whole property without any division. It means when a co-owner dies, their ‘share’ automatically goes to the remaining co-owners. There is no need for a grant of probate or a grant of letters of administration. 

All the surviving co-owners have to do is to send the Land Registry a death certificate along with a Deceased Joint Proprietor form. The land registry will register them as the owner.

In the tenancy in common, each co-owner owns a specific share of the property. The deceased share can be passed to the inheritors in accordance with the deceased’s will or the rules of intestacy. An executor or administrator fulfills these duties.

Do you need help with the property transfer after the death of the owner? Get in touch with an expert conveyancing solicitor in London.      

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