If someone you know has recently passed away, you may be wondering what will happen to their property. We understand that it can be an overwhelming and challenging time. We’re here to help you.
When a person dies, their Executor assumes responsibility for administering their estate. This includes looking after their home and other assets like pensions or bank accounts until a Grant of Probate is obtained.
What is An Executor?
An Executor is a person who has been named in a Will to carry out the wishes of the deceased. It is the job of the Executor to handle all of the estate’s affairs, including selling any property. After the payment of any debts and expenses, the remaining funds are distributed according to the wishes of the loved one in their Will. If there is no Will, the intestacy laws dictate how assets should be divided up.
Executors Can Sell Property
Executors can sell the deceased’s property and distribute the proceeds to the beneficiaries after the administration of the estate.
What Does the Executor Have to Do To Sell Property?
If the property was jointly owned, an Executor can send a Deceased Joint Proprietor form along with Death Certificate to the Land Registry for it to be removed from title deeds. .
If the property was not jointly owned, then the Executor must follow the terms of the Will for the instructions on the property. Whatever the Will states, the Executor must comply with the deceased’s wishes. If the Executor has no instruction to follow in the Will, it is their responsibility to sell the property.
Having an Executor Name in Your Will Is Important
If you have property, make sure that the person you want to take care of your estate has been named in your Will. You may have up to four Executors. It is important they know their role and all of what needs to be done when things get complicated or messy.
To ensure your estate is taken care of promptly, in a cost effective way that meets your wishes, have a Will. Your loved ones will be able to handle your wishes when they are outlined clearly in your Will.
Elizabeth Middleton Solicitors are at the ready with an experienced and considerate team to assist you with your estate planning needs. Contact us for more information about writing your Will, as well as your other legal needs for probate, Lasting Powers of Attorney and Equity Release.