Handling Deceased Person’s Real Estate: Key Steps

1. Determine Ownership

• Check Legal Ownership: Find out who legally owns the property. Sometimes, family members are surprised to learn that their relative wasn’t the actual owner of the house they lived in.
• Review the Last Vesting Deed: This document contains crucial information about ownership. Look for phrases like “Jane Doe, Trustee of the Jane Doe Living Trust dated MM/DD/YYYY” or “The John and Jane Doe Living Trust U/A. (Month, Day, Year)” in the deed.
• Seek Professional Assistance: If needed, consult professionals to understand ownership and take necessary steps for selling or transferring the property.

2. Types of Ownership and Next Steps

a. Owned by a Trust

• Look for phrases like “Jane Doe, Trustee of the Jane Doe Living Trust” in the deed.
• Determine the successor trustee if Jane Doe (the deceased) was the trustee.

b. Individually Owned

• If the property was solely owned by the deceased (e.g., “John Doe”), check state laws. Probate may be necessary to appoint a personal representative for selling or transferring the property.

c. Joint Tenancy with Right of Survivorship

• Phrases like “Jane Doe and Alice Brown, as joint tenants with rights of survivorship” indicate joint ownership.
• Understand the implications of joint tenancy and seek legal guidance.

3. Appraisal and Pricing

• Get the Real Estate Appraised: Determine its value. Probate courts often require the property to sell for at least 90% of the appraised value.

4. Legal Documentation

• Obtain a certified copy of the letters (such as letters testamentary or letters of administration) from the probate court.
• Prepare a personal representative’s deed with the help of an attorney for the estate.
• Obtain a letter from the estate attorney confirming the legal steps taken.

Remember, handling real estate after a loved one’s passing requires careful attention and professional guidance.