Full question:
what deed form to transfer property from a deceased parent to a beneficiary
- Category: Real Property
- Subcategory: Deeds
- Date:
- State: Pennsylvania
Answer:
The appropriate deed form depends on how the property was held by the deceased. If the property was held as transfer-on-death assets or joint assets with a right of survivorship, it typically passes outside the probate process directly to the named beneficiary. For example, if real estate is owned by spouses as joint tenants with a right of survivorship, it automatically transfers to the surviving spouse without going through probate.
If the property was held as tenants in common, the deceased owner's share may pass to their heirs. When a person dies, their assets are usually distributed through probate. If there is a valid will, an executor is appointed to manage the estate's distribution. The court issues testamentary letters to the executor, granting them authority over the deceased's affairs.
To transfer real property interests, the executor executes an executor's deed or fiduciary deed. For instance, if a joint tenant dies, the executor can use a fiduciary deed to transfer their interest to the remaining joint tenants or to someone designated in the will.
In Pennsylvania, if the estate value is under $25,000, it may qualify for a simplified summary procedure. A party in interest can petition the court to distribute the property to the rightful parties, with or without appraisement, regardless of whether letters have been issued or a will probated.
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.