Philadelphia Business Daily

What other form other than the change of ownership form do I need to complete if a property was willed to me?

I know a change of ownership form needs to be completed. I have a will and death certificate. Are there other forms that need to be completed prior to my placing the property on the market for sale. How long does it take to complete the change of ownership process?

Public Comments

1. This is something that the attorney handling the estate would be able to answer for you. It's best left to an attorney where you live to answer your question.
2. This isn't an area of law that I have looked at much, but I'd suggest obtaining and recording a grant deed from the executor or administrator of the estate. This will publish to the world (and the title companies in particular) that you have a marketable title to the property.
3. When the property comes of out probate, you will have a legal document from the court that is signed by the judge overseeing the probate. In this document it will name you as the beneficiary of the property. This is taken to the county court clerk and recorded. Ask your attorney how to do the process so it will be done correctly. Also, if there are any outstanding taxes on the property that were not paid in the probation of the property, you will be the responsible party in which to pay them. If you cannot pay them, then sell the property, pay the taxes, and keep the remainder of the proceeds.
4. State procedures vary, but in general the will must be admitted to probate; the court will have to issue some type of order that you are in fact the owner; the order & death cert. will have to be recorded in the public records. You will also have to submit and/or record some clearance from the court or your states' tax collector, and/or the IRS that there are no estate taxes due. Bring the will to a local attorney.