When an individual passes away without a Will, the law determines the heirs of that person and all property of the decedent passes to those heirs in percentages that are prescribed by law. A Will is a wonderful way for the individual to designate to whom property should pass, eliminating the statutory heirs. If the individual dies with a Will, but the estate contains only real property that needs to be passed under the terms of the Will, probating the Will as a Muniment of Title may be a more cost effective way of passing title to the property.
Probating a Will as a Muniment of Title is simply presenting the Will to the Probate Court and asking the Probate Court to legally recognize the transfer of title to the property as indicated in the Will. Unlike the normal probate process, no Executor is appointed, no Inventory is required, and the process is much less time consuming â€“ thus saving money. Unlike executing Affidavits of Heirship for the deceased individual, probating a Will as a Muniment of Title eliminates title passing to any heirs that were not named as recipients of the property in the Will.
If you would like to use a knowledgeable title company conveniently located in the Heights, please give us a call.