What Happens to Property When Someone Dies?
What happens to a property when someone dies depends entirely on how it was owned at the time of death. This distinction is one of the most commonly misunderstood aspects of estate administration.
Where a property was owned solely in the name of the deceased, probate will almost always be required before the property can be sold or transferred. The estate cannot deal with the property lawfully until the Grant of Probate has been obtained.
Where the property was owned jointly, the outcome depends on the type of ownership. Where owners held the property as beneficial joint tenants, the property passes automatically to the surviving owner under the right of survivorship without the need for probate in relation to that asset. Where they held it as tenants in common, the deceased's share does not pass automatically. It forms part of the estate and must be dealt with through the probate process.
Many people are unaware of which form of ownership applies to their property. This can significantly affect how and when the estate is administered.
At MJV Solicitors, we advise executors and families on how property is dealt with as part of the probate process.