What's happening?
Property is often one of the most significant assets in a deceased estate, and dealing with it correctly involves both estate administration and conveyancing steps. Depending on the will and the wishes of beneficiaries, estate property may need to be transferred to a beneficiary, sold to fund distributions, or held for a period before a decision is made.
What could it mean for me?
- A grant of probate or letters of administration is generally required before estate property can be sold or transferred
- Selling estate property involves the same conveyancing steps as a standard sale, alongside estate administration requirements
- Transferring property directly to a beneficiary may have duty implications that should be checked
- Ongoing costs such as insurance and rates need to be managed while the property remains part of the estate
What are my options?
- Obtain the necessary grant before taking steps to sell or transfer the property
- Decide, in consultation with beneficiaries, whether the property will be sold or transferred
- Arrange appropriate insurance and maintenance while the property is held by the estate
- Seek advice on any duty implications of transferring property to a beneficiary
What happens next?
- We confirm the executor or administrator's authority to deal with the property
- We advise on whether sale or transfer is the appropriate path
- If selling, we manage the conveyancing process through to settlement
- If transferring, we prepare the necessary transfer documentation for the beneficiary
How can MGE Lawyers help?
We assist executors and administrators with both the estate and conveyancing aspects of dealing with deceased estate property, helping to coordinate the two processes.