Many individuals when they die leave behind an estate consisting of various assets, most often including real property. When disputes arise about real property, they can transform a straightforward estate administration into a complicated one.
Various disputes can arise involving real property in an estate, such as:
- who inherits the real property;
- how much of the real property a person should receive;
- whether a person is entitled to the entirety of the real property;
- selling it on the open market for fair market value versus selling it in a “sweetheart” deal to a relative;
- one beneficiary using their expected share of the estate towards purchasing the real property;
- a person claiming an interest in the real property due to contributions or improvements they made;
- real property that passed outside the estate such as by pre-death transfers to a child or by holding it in joint tenancy; and
- where the deceased made promises to someone about receiving the real property.
If you find yourself in a situation with questions regarding real property in an estate, you should:
1. Review the Will
It is important to review the will to determine who the executor is, what the terms are regarding the distribution of the estate, and if there are any specific terms dealing with any real property in the estate.
2. Review Title to the Real Property
It is equally important to obtain title searches for all real property. Title searches can reveal important information such as, whether there are any mortgages on the property and who holds title to the property (e.g. the deceased and their spouse jointly, or a child of the deceased).
3. Talk to a Lawyer
Depending on how the real property is held, whether it passed within or outside the estate, and the executor in charge of the estate, there may be a need to take steps quickly to preserve and protect the real property from being sold or mortgaged. It is important to consult with a lawyer without delay to get timely advice.
Conclusion
Estate matters can be complicated. There are many nuances to estate disputes, and the law concerning trusts and estates is not straightforward. It is best to consult with a lawyer to find out your rights and options. Our estate litigation team at Watson Goepel LLP is here to help you. Consult with one of our estate litigation lawyers who can provide valuable guidance, ensuring that your concerns and any claims are addressed.
