Deceased Estate Transfers
There’s a lot to do when someone close to you has passed. What you need to do following the death, will depend on your role in finalising the estate of the deceased.
Transferring property to a spouse of the deceased or beneficiary named in the Will, will depend on how the property ownership was noted on title at the time of their death.
Notice of Death
Do you own property as Joint Tenants with an owner that has passed away?
If the deceased owned property as joint tenants with a surviving owner on title, the property will in most cases be able to be transferred to the surviving joint owner without having to apply to the court, as the property does not form part of the deceased estate.
A copy of the Death Certificate is generally required as the proof of death. A Coroner's report or Medical Certificate certifying the death is also acceptable, which is required to lodge a Notice of Death with Land Registry Services (LRS), to transfer the property into the name of the surviving joint tenant.
We can help with preparing and lodging the Notice of Death to ensure a hassle-free transfer of ownership.
Transmission Applications
Tenants in Common will require the share of the property that was owned by the Deceased to be transferred in accordance with the Will, or if no Will was in place, administration under legislation. The same also applies if the deceased was the sole tenant (owner) of the property.
If you are an executor or trustee managing the deceased person’s estate, once probate has been granted there may be property to distribute as per the deceased wishes. Generally, the property is transferred into the executor or administrator’s name first, in preference to directly transferring direct to any beneficiaries. However, a transmission can be made direct to the beneficiary, which may also be the same person named as executor and trustee.
If you have or expect to receive property from a deceased estate, in accordance with the terms of the will, Hive Conveyancing can assist with completing a transmission application to place the property in your name. We will complete all the necessary requirements and ensure the process is as stress free as possible.
If probate is yet to be granted and you have vacated the home for an imminent sale, get in touch with us to discuss how we can assist with preparing a contract for sale, with a condition allowing for probate to take place after exchange of contracts to avoid any delays with the sale.
What if the property has a current mortgage?
If the deceased person’s property has a current mortgage, the lender will generally require the balance of the mortgage to be paid. If you are selling the property to repay the debt, the mortgage will be repaid in full and the remaining proceeds will be distributed in accordance with the terms of the Will.
If you need assistance with management of the estate, the below links may be useful: