Due to an increase in real property sales involving estates, it has become increasingly important for sellers to understand the requirements and processes involved. Previous posts in this series have discussed important steps that are necessary in determining the answer to the most important question facing sellers – who needs to sign? The answer depends on a variety of factors including whether the decedent had a will, whether probate has been filed correctly, whether all beneficiaries have been identified, and whether notice to creditors has been published.
Unfortunately, because there are so many factors to consider, the answer will vary on a case-by-case basis. The easiest and safest solution is to make sure the Personal Representative (i.e. Executor or Administrator) and all beneficiaries or heirs are prepared to sign. However, as mentioned in the last post, there is one main question that can help narrow this down – has the final accounting been approved?
If the answer is yes, then it is likely the case that only the beneficiaries or heirs will need to sign because, once the estate is closed, the Personal Representative is relieved of their duties. If the answer is no, then the Personal Representative must join in signing. Remember, if any beneficiaries or heirs are married, their spouses will also need to sign!
There are also rare occasions where only the Personal Representative will be required to sign, but it is uncommon. Therefore, it is always best to plan for the beneficiaries or heirs to sign, which is why identifying and locating them early in the process is so important. If you are unsure or have questions about who may need to sign or what may be required for a successful closing, alert the closing attorney as soon as possible in order to avoid any last minute hiccups!
Revolution Law Group is located in Greensboro, NC, and serves individuals and small businesses throughout the Triad and surrounding areas. To contact us please visit Revolution.law or call 336-333-7907.
The information included here is for informational purposes only, is not exhaustive of all considerations when creating documents, is not intended to be legal advice, and should not be relied upon for that purpose. We strongly recommend you consult with an attorney and do not attempt to create your own documents.