Legal Question in Real Estate Law in Florida
transfer of real estate
Dear Sir/Madam: Two people owned a house without survivorship rights, and one died without a will. The estate of the decesed was never probated, the death was over 10 years ago, and the only estate asset was the house. The deceased has six children--no husband at time of death. The six children would like to transfer their respective portions to the surviving owner who currently lives in the house. The deed to the house is currently in the name of the deceased and the surviving owner. The house is currently valued under $120,000; therefore, gift tax considerations are moot. What steps need to be taken to achieve a legal transfer?
2 Answers from Attorneys
Re: transfer of real estate
The legal steps required in most instances are either a probate or quiet title lawsuit. Before you take any action a real estate attorney (not a title company) should be engage to procure a title insurance committment and abstract to verify the state of affairs for the property and assurance that once any legal action has been taken title insurance will be available to permit the sale and financing of the home. The cost for the title search will be between $85 and $350.
Re: transfer of real estate
To establish marketable title, you would need to first probate the estate of the decedent. At the same time, you need to study the title to the property to see what else needs to be done to make the title legally marketable. I recommed that you consult with an attorney in the county where the decedent resided or in the county where the property is located.
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