Property Transfer Matters in Fort Myers
Fort Myers Probate Attorneys – 239.970.6844
Usually, the most expensive piece of a decedent’s estate is real
estate property, such as a home or plot of land. Unlike many other assets
to be distributed as inheritances, real property will need to go through
a preparation process and eventual property transfer.
At Powell, Jackman, Stevens & Ricciardi, P.A., our
probate lawyers in Fort Myers have
more than five decades’ worth of legal and property transfer experience. Be sure to
contact us today if you will need help managing a probate case of your own.
Managing Real Estate Before Transfer
Real estate property, with its high value and high interest from family
members, in many cases must be carefully managed before it is transferred.
There is little use for a piece of real estate in disrepair. The same
can be said of homes or business property with liens against them.
There are three things to consider before transferring real property in probate:
Mortgages or taxes: No one wants to inherit property debt. If a piece of real estate is to
be transferred, other portions of the estate can be used to pay off any
remaining mortgages or taxes against the property first.
Maintenance: As the testator ages or becomes indisposed, any real estate property they
own or control will need to be maintained. This duty must also be upheld
after they pass away and the will goes through probate.
Appraisal: It is invaluable to have a piece of property professionally appraised
after it enters a decedent’s estate. Otherwise, it may be inherited
well under or over its value.
Deed: Finally, you or the probate administrator will need to find the deed to
the property. This document will outline who owned the real estate and
how it can actually be transferred.
How Property May Be Transferred
Upon reviewing the deed, it should become apparent how the property can
be transferred, either in or out of probate. If it is not clear, speak
with our Fort Myers probate attorneys. We have dealt with complicated
will contests regarding some of the most intricate wills around.
Some ways property can be transferred after a testator passes away include:
Single owner: If the decedent was the only owner of the real estate property, it is relatively
easy to transfer the property to whoever was named as an inheritor.
Joint tenancy: Some deeds state that property is owned in joint tenancy, or by two people.
When one owner passes away, the surviving owner will automatically have
full ownership transferred to them.
Spousal ownership: In some instances, probate can be avoided if the decedent has a surviving
spouse that lives within the property. Tenants by the entirety rules can
transfer sole ownership to the spouse without further probate processes.
If none of these options work for your property transfer case, the real
estate may need to go through probate with everything else in the decedent’s
estate. While this might not be the most convenient method, it is not
an impassable obstacle.
We Remove Complexities from Your Case
At a glance, the probate process and relevant laws can be intimidating
for people not well-versed in the legalities. At Powell, Jackman, Stevens
& Ricciardi, P.A., our Fort Myers probate attorneys understand that
you have enough on your mind without needing to sort out a property transfer.
Start with a
free case evaluation today to learn more about what we can do to make your life easier and
your probate a breeze.