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What happens when a Seller dies? (Part 2)

What happens when a Seller dies? (Part 2)

What happens to the sale of property where a Seller noted on title dies?

When a Seller dies the title to the property must be varied in the Department of Natural Resources and Mines to reflect the death of the Seller before the property is able to be sold. Where there is more than one Seller on title it is necessary to determine how the property is held (such as whether it was held as joint tenants or tenants in common) as this will dictate the next steps to be taken. It is important that the person managing the deceased persons estate obtains legal advice to ensure that they are fully aware of the steps involved prior to taking steps to sell the property.

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(ALSO READ:)
Outgoing and Adjustments on a Property
Buyers Guide
Sellers Guide

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To learn more about Seller noted on title dies today, contact OWNit Conveyancing on 1300 553 750.