Property sale upon death - Posted by TH

Real Estate Investing Raw Land
1

Posted by TH on November 02, 2005 at 07:17:39:

Michaela:

Kentucky is a “Dower” state therefore no need to contest will or deal with probate.

TH

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Property sale upon death - Posted by TH

Posted by TH on November 02, 2005 at 06:44:09:

Hello Board:

Quick question for you: I just completed a sale of raw land with a client. The Client, his wife and sister were on the deed as owners. Before the sale was completed my Sellers wife died. My question to you is how should he split the proceeds from the sale. Should he split it in half? Half for him and half for his sister, or should he split it in thirds one third for each person named on the deed. Of course his wifes proceeds would automatically go to him. I think he will just split it 50/50 to keep a good relationship with his sister, but I feel he is entitled to his wifes share. Am I wrong here?
TH

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Re: Property sale upon death - Posted by ken

Posted by ken on November 02, 2005 at 18:46:12:

I would stay out of it.You will do yourself no good by getting involved

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Property - Posted by Nike

Posted by Nike on November 02, 2005 at 07:28:23:

Look at the deed- was title held as joint tenants or tenants in common? If JT then there’s a right of survivorship and the husband and sister take the the deceased interest equally.

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Re: Property sale upon death - Posted by michaela-ATL

Posted by michaela-ATL on November 02, 2005 at 06:59:55:

TH,

I\m not an attorney and things may be different from state to state.

With that being said, how could this sale have gone through, if the wife died before? As far as I know probate would have had to be done for this to be valid. Who signed for her? Did someone forge her signature?

If there are no under-age kids, then the husband would be heir, if there’s no will, but normally, that would have to be confirmed through legal probate proceedings.

Michaela

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Re: Property (Nike) - Posted by TH

Posted by TH on November 02, 2005 at 17:48:28:

You are correct! After doing a little DD myself today it would seem that Title was held as joint tenants and 50/50 split is correct as per the deed. Thank you for the follow up.
TH

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Re: Property sale upon death - Posted by John

Posted by John on November 03, 2005 at 05:19:04:

I have only a limited understanding of probate and less of dower as you replied.

Question is “How can a dead person buy real estate?”

The corpse can’t sign at closing. I can not understand how a title company would convey title to a deceased person. Can you explain this please?