How Does An Executor Transfer Real Property in Texas?

Full question:

My father sold his house, owner finance, sense then he has died and I am the execator of the estate. Qustion is: house is now paid off and I am told at the Court House that all i need is a release of lein and I can sign the form beause I am the exicator? If so what form do you have for me to get and what info do you have on this matter?

Answer:

When a person dies, their assets are distributed in the probate process. If a person dies with a valid will, an executor is named to handle the distribution of the estate. If the person dies without a valid will, the court appoints an administrator to distribute the decedent's assets according to the state's laws of intestacy. In cases where the decedent didn't own property valued at more than a certain amount, which varies by state, the estate may go through a small estate administration process, rather than the formal probate process. To dispose of the real property interests of the decedent, the executor or administrator executes an executor's deed or fiduciary deed. For example, if a person who is a joint tenant dies, the executor of the estate can execute a fiduciary deed transferring their interest to the remaining joint tenants, or other person entitled to receive the interest under the will.

Joint tenancy is a form of ownership by two or more individuals together that differs from other types of co-ownership in that the surviving joint tenant immediately becomes the owner of the whole property upon the death of the other joint tenant. State law, which varies by state, controls the creation of a joint tenancy in real property. Joint tenancy property passes outside of probate; however, it may be severed so that the property becomes part of one person's estate and passes to that person's heirs. Each joint tenant has an equal, undivided interest in the whole property, and may enter onto, take possession of the whole, occupy, and use every portion of the common property at all times and in all circumstances. All joint tenants, and their spouses, must sign deeds and contracts to transfer or sell real estate.

The answer will depend in part on whether the estate has been probated, and if not, the owners named on the deed, the value of the estate, and other factors. Property owned as joint tenants with right of survivorship passes automatically to the survivor outside the probate process. In such cases, procedures for transferring the deed to the survivor vary by local recording office. Typically, a copy of the death certificate is required and a fee must be paid. I suggest calling the recorder's office in the county where the property is located to inquire about local requirements.
In Texas, estates not worth more than $50,000 can qualify for a small estate administration. Please see the links to Texas fiduciary deed and small estate forms below.

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.

FAQs

When the owner of a financed vehicle dies, the loan does not automatically disappear. The estate is responsible for the debt. If the estate has enough assets, the loan can be paid off. Otherwise, the vehicle may need to be sold to settle the debt. If you inherit the vehicle, you may need to continue making payments or refinance the loan in your name. Check with the lender for specific options available in your situation.