When a property owner dies, their real estate must be transferred through the probate process if they owned it in their individual name. The court appoints an executor (if there is a will) or an administrator (if there is no will) to manage the estate. The executor or administrator has the authority to pay debts, settle claims, and distribute assets according to the will or state intestacy laws.
After a homeowner passes away, her will names her daughter as executor. The daughter files the will with the probate court, which validates it. After debts and taxes are paid, the court authorizes the executor to sign a deed transferring the property to the beneficiary named in the will.
An executor is named in the will; an administrator is appointed by the court when there is no will — this distinction is frequently tested. Remember that property held in joint tenancy with right of survivorship passes OUTSIDE of probate automatically to the surviving joint tenant.
Related Terms
Related Concepts
A deed is a written legal document that conveys (transfers) ownership of real property from one party to another. It must be delivered to and accepted by the grantee to be effective.
A general warranty deed provides the greatest protection to the grantee by guaranteeing that the grantor holds clear title and has the right to sell the property. It includes covenants that protect against all defects in title, even those arising before the grantor owned the property.
A special warranty deed guarantees that the grantor has not caused any title defects during their period of ownership, but does not warrant against defects that existed before the grantor acquired the property.
A quitclaim deed transfers whatever interest the grantor may have in a property without making any warranties or guarantees about the quality of title. It offers the least protection to the grantee.
A bargain and sale deed implies that the grantor holds title and possession of the property but does not include warranties against encumbrances or title defects.
Frequently Asked Questions
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