So often as part of the Estate Administration part of my practice, I have to address issues that should have been resolved long ago. Over the next few days, I will discuss the typical type of problems that arise with Deeds. Today, I will address the Deeds that still have a deceased spouse's name on the Deed.
Is your deceased spouse's name still on your Deed?
When one spouse dies the property becomes the property of the surviving spouse (Tenancy by the Entireties). The surviving spouse takes 100% ownership as the right of the surviving spouse. Therefore, many choose to not incur the cost of having a new Deed prepared. However, when there is a sale of the property evidence of the death of the spouse whose name is still on the Deed is needed. Though this is easily accomplished with a death certificate, it is still another step that has to be taken. You may have a death certificate handy or you may have to order another one. Everytime something is done with the Deed, the explanation and proof has to be provided, even for the heirs at the death of the surviving spouse.
I recommend, for yourself as well as your heirs, that a new Deed be prepared when one spouse dies. The minimum cost that you will incur will save you and your heir lots of unnecessary anguish in the future.
Leave your comments here or contact us http://www.ythlaw.com/
Is your deceased spouse's name still on your Deed?
When one spouse dies the property becomes the property of the surviving spouse (Tenancy by the Entireties). The surviving spouse takes 100% ownership as the right of the surviving spouse. Therefore, many choose to not incur the cost of having a new Deed prepared. However, when there is a sale of the property evidence of the death of the spouse whose name is still on the Deed is needed. Though this is easily accomplished with a death certificate, it is still another step that has to be taken. You may have a death certificate handy or you may have to order another one. Everytime something is done with the Deed, the explanation and proof has to be provided, even for the heirs at the death of the surviving spouse.
I recommend, for yourself as well as your heirs, that a new Deed be prepared when one spouse dies. The minimum cost that you will incur will save you and your heir lots of unnecessary anguish in the future.
Leave your comments here or contact us http://www.ythlaw.com/
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