Pacific Escapes Real Estate, inc

If you have lost a loved one and are facing the task of managing their affairs and do not know what happens to real estate after the owner dies. In this article, you can find some answers. Losing a loved one and dealing with the deceased person’s property can be a difficult and emotional process. 

Here are some steps you can take to handle real estate matters:

1. Gather important documents: You will need to locate the deceased person’s will if they had one, and any deeds or other documents related to their real estate. You will also need to obtain a copy of their death certificate.

2. Determine the ownership of the property: If the deceased person owned the property jointly with someone else, such as a spouse or partner, you will have to review the recorded documents to see how the ownership is structured. This will tell you if the property automatically gets transferred 100% into the spouse’s name. If the property was owned solely by the deceased person, it will be distributed according to their will or, if there is no will, according to state laws governing inheritance. The majority of people will end up having to go through the Probate process. 

3. Reach out to a Probate attorney to determine what your next steps have to be. If the property is in a trust, then it may be passed to the beneficiaries upon death. If the property is not in a trust, then you will likely have to go through the Probate process before you can sell any assets. 

4. Notify the lender: If the deceased person had a mortgage on their property, you will need to notify the lender of their death and provide them with a copy of the death certificate.

5. Make a decision about the property: Once you have determined who owns the property, you will need to decide what to do with it. You may choose to keep the property and continue making payments on the mortgage, sell the property, or transfer ownership to another family member or beneficiary.

After a loved one dies, it can be hard to figure out what to do with their property, but it’s important to take care of these things quickly to avoid problems. It may be helpful to seek the advice of a lawyer, financial advisor, or even a real estate agent to help you navigate the process.