Did you know that when one of the owners of a property dies you need to notify Land Services SA?
But before you do that, you need to determine exactly how the property was owned. And that’s where we can step in to help!
When a property is owned by one person and they pass away, the process is usually, but not always, straightforward.
A process called probate is carried out to confirm that the person’s will is valid and that it accurately represents the intentions of the deceased person.
The executor or administrator of the person’s estate can then distribute the property and other assets according to the deceased person’s wishes.
But when a property is owned by more than one person, things can get complicated.
- Was the property held as ‘joint tenants’ with a surviving spouse?
- Was the property held jointly with one or more ‘tenants in common’?
- Was the property held jointly with one or more ‘joint tenants’?
- Is there a mortgage over the property?
- Was the property being rented out?
- Is the property occupied by a beneficiary of the will?
- Is the property liable for land tax?
- Has the owner entered into a Contract of Sale for the property?
Some of these complications may exist even when there is only one owner of the property!
If a person dies without a will, or if the will is out of date or invalid, extra processes may need to occur before the property can be transferred.
This is why we recommend appointing a conveyancer to help you navigate the complexities of dealing with property as part of a deceased estate.
As Certified Practising Conveyancers, the team at Cornerstone Conveyancing regularly deal with scenarios of varying complexity. We can guide you through the entire process, taking away the burden of ensuring compliance with the legislative requirements, and allowing you the space and time to grieve.
Please get in touch today for a confidential and obligation-free chat, so we can answer any questions you may have and give you peace of mind at this difficult time.
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Contact us today for an obligation-free discussion.