Death of someone in the family is undoubtedly a sorrowful event, and if that person was the legal owner of the property, there is one question that is bound to come in your mind – “What will happen to the title?” To change the ownership of the property, you may have to go through various formalities that can be time-consuming at times. But things turn out a lot easier when you avail professional property transfer services.
It goes without saying that transferring the property title entails a complex set of procedures unless you have experienced settlement agent to guide you through.
In this blog, we shall tell you everything you need to know. Read on!
Transmission – Sole proprietor or Tenants in Common
If the deceased registered proprietor has a valid Will then the Executor will need to apply for Probate.
If the deceased registered proprietor does not have a valid Will, the a person will need to be appointed as an Administrator and apply for Letters of Administration.
Once Probate or Letters of Administration have been granted, the Executor or Administrator will need to appoint a Settlement Agent to apply for the title to be transferred into the Executors name/s.
Right of Survivorship – Joint Tenants
If the property is held as Joint Tenants then the surviving registered proprietor will need to apply to have the property transferred into their name.
Providing the Original Death Certificate to your settlement agent and they will prepare the required documents to transfer the property.
Conclusion: Transferring the title of a property after the legal owner’s death it is important to transfer the property title. This can often involve complicated procedures which may take a long time if there is an absence of proper guidance. For this reason, it is advisable to avail expert property transfer services and have a stress-free procedure, from the beginning till the end. To find out more talk to one of our Licensed Conveyancers and ask about our real estate settlement services, call us anytime on (08) 9586 9992.