Legal Question in Wills and Trusts in Texas
Probate of a will
Does a will, in which there are only two heirs, dividing land of approximately $300,000 in value have to be probated?
An appraiser, who estimated the market value, suggested that my brother and I could sign Quit Claim Deeds to each other.
First is this legal? Second, if yes, will a Title company issue title insurance upon sale of the land to a third party? Thank you.
2 Answers from Attorneys
Re: Probate of a will
I agree with Mr. Leon. Probate is the only appropriate way to handle the distribution of the estate. The will most likely provides for an independent executor, and with only two heirs, the actual probate could be very simple and quick. Also, while quickclaim deeds are useful in passing title when the chain of title is either suspect or not tracable, they are not an appropriate vehicle to transfer land from a deceased estate to the heirs. Considering the value of the land, I also think you should handle the transfer of the estate through the probate courts.
This is only my opinion and not meant to constitute legal advise. No client/attorney relationship is intended nor formed.
Do not hesitate to call me if I may assist.
Jay Printz 817-569-6700
Re: Probate of a will
If there is property worth that much money, I don't see a reason to not probate the will. You may be able to 'get by' doing other things, but when the stakes are this high, it's probably not worth the risk.
If the estate has no debts, then you can do an inexpensive probate procedure to clear the title to the real property.
As for the quit claim deeds to one another, I wouldn't recommend it. At best, you will have to additional corrective title work, as most title companies typically get annoyed with quitclaims, and they will likely require something additional.
Give me a call if you want to discuss this further. 214.368.7040