Probate is the financial and legal process involved in analyzing and administering the assets of a deceased person. It may involve proving the validity of a will and determining the authority to administer the deceased's property. This post will focus on how probate proceedings may affect title rights and what you need to know to avoid delays during estate closings.
Here are a few things that could go wrong during the probate proceedings and invalidate a title:
The court order transferring the title should ensure that the document has a suitable legal description. Court orders recorded with the wrong legal descriptions can adversely affect the title rights. It is important to note that the legal description is an integral part of the property transfer, which means incorrect document information could cast a cloud on the title.
It is essential to thoroughly check for title defects in the recordings after a divorce. If the divorce process was not complete at the time of the death, the estranged partner has a legal right to claim the property. However, if the marriage was officially dissolved, the divorce may prevent the ex-spouse from ultimately owning the title rights of the estate.
A notice of the probate should be given to all interested parties, including the heirs and the creditors. A disclaimer of interest should be filed when one of the beneficiaries renounces their rights to the property. The document should be recorded in the county records.
If a notice of the probate is due for a missing heir, the administrator must make an effort to find the heir. The court may hold the property open for a lengthy period before the distribution can begin. You can avoid these risks by working with a Jacksonville title company.
The term 'survivorship rights' is used to protect the decision on whether a decedent should keep, use, or dispose of the jointly held property after the death of a joint holder. The survivorship rights allow the decedent to transfer the property without the need for lengthy probate.
The probate process can complicate title searches and home closings. At Atlantic Coast Title and Escrow, our team can guide you through these issues to achieve a timely closing. Please contact us online or call us at 904-853-5591 to get started.