Navigating Probate: Executors’ Quick Guide to Property

Executor's Express: A Quick Guide to Property in Probate

Rental Property: Sole tenant? It goes back to the agent. Joint ownership? Smooth transition. 'Tenants in common'? Share becomes an estate asset.
Sole Ownership: Part of the estate. Check Will for guidance. Meeting notice periods is crucial. For rented properties, leases persist under the executor.

Unoccupied home? Clear it. Inventory for estate value. Consider emotional ties. Home and contents insurance could be handy. Items can't be removed until officially recorded, except for those specifically bequeathed.

Valuation is vital for tax, Probate, and fair distribution. Mortgaged property? Likely sold to cover balances. Determine value, get professional appraisals, and consider mortgage protection insurance.
Selling is common. Final title transfer post-Probate or Letters of Administration. Adhere to specified conditions in the sales contract.

Joint ownership? Direct to surviving owner. Sole ownership or 'tenants in common'? Shift to the executor. If selling, act in the estate's best interest, supported by valuation and sales contracts.
Issue a notice of intent before distribution, allowing potential claimants to come forward. Once all requirements, including notice periods, are met, hand the estate to beneficiaries.
Ensure the property title reflects the executor's name before transferring to beneficiaries. Check stamp duty obligations before submitting documents to the Land Registry Services.