How is Inherited Property Transferred to Beneficiaries?
When someone dies in the family, the question of who will inherit the assets of the deceased is always asked. Families usually experience uncertainties in this regard, especially when death is unexpected. But, since the California laws are straightforward, it lessens the stress you will encounter during the transfer of inherited properties. Not everyone knows the transfer process, so, if you are curious about the procedure, here’s a simplified way to transfer the inherited property to beneficiaries.
Find a lawyer.
Usually, when a person who has assets to give away dies, a lawyer is involved, together with a will. The first step to make the process easier and less of a hassle is to contact your family attorney or find a lawyer to deal with everything. If your family member left a will, determining the beneficiaries is easier and simpler as your family doesn’t have to decide who’s going to receive and who’s not. Usually, the will contains the name of the inheritors, the properties involved, and the assigned properties to each beneficiary. The next steps are easier to complete with a lawyer.
Go to the court.
In case you don’t have the capability to hire a lawyer or the deceased did not leave a will, you can head straight to any court in Orange County, California, and seek help with the process. With the help of the court, you will determine the value of the real estate property, the potential beneficiaries, and how you are going to divide the total asset calculated. If there is more than one beneficiary, you will be asked to provide an affidavit wherein all the beneficiaries need to sign to show the agreement of all parties involved. The court may ask you to have the document notarized to add legality to it.
After that, you have to provide the documents needed to prove that the original owner of the properties has died. Attached to the affidavit should be the following: a certified copy of the death certificate of the deceased, proof that the deceased owned the property, proof of your identity, and an inventory and appraisal of all the real estate properties they owned in California. The transfer of property will take at least 40 days after the death of the deceased. You must be prepared to coordinate with California courts until the transfer is successful.
Ask for a real estate investment company's assistance.
You have the option to process the transfer on your own. However, the best option is to seek assistance from a real estate investment company, especially if you are located in Orange County, California. If you don’t know anything about inheritance laws, you don’t have to face the challenges alone. Let the people who are knowledgeable and competent handle the situation. Typically, investment companies have a legal team they can refer you to who can help you with the process.
Our company, JAM Properties, LLC, offers the best real estate solutions that you need. Never waste a single day to process the transfer of properties. Reach out to us today to speed up the process! If you are interested in selling the inherited properties, we can help with that too by providing you a cash offer for each property. Let us know your personal needs so we can find you a solution today.