Full question:
I need to do an Heirship. My friend's mother passed away and he is the only heir. She has a will leaving everything to him. All she had was a very inexpensive piece of property. A neighbor of the property purchased the property from my friend. He now wants to transfer the property into the buyer's name. His mother had nothing else of value and no other heirs. What are the steps I need to take to complete this?
- Category: Wills and Estates
- Subcategory: Probate
- Date:
- State: Mississippi
Answer:
To transfer the property left in the will, follow these steps:
1. **Probate Process**: Since your friend's mother left a will, the estate must go through the probate process. This involves filing a petition with the court in the county where she lived. An executor will be appointed to manage the estate.
2. **Fiduciary Deed**: The executor will need to execute a fiduciary deed to transfer the property to your friend, as he is the sole heir. This deed conveys the property from the deceased to the heir.
3. **Small Estate Administration**: If the total value of the estate is less than $50,000 and there are no other assets, you may be able to use a small estate administration process instead of full probate. This simplifies the process and may not require an executor.
4. **Muniment of Title**: If the estate qualifies, the will can be admitted to probate as a 'muniment of title' without formal administration. This requires a petition signed by all beneficiaries, stating that the personal property value does not exceed $10,000 and that all debts have been paid (Miss. Code § 91-5-35).
5. **Transfer to Buyer**: Once the property is legally in your friend's name, he can complete the sale to the neighbor by executing a deed transferring ownership.
Make sure to check all local requirements and possibly consult with a probate attorney for assistance.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.