Full question:
My father-in law recently passed away in Oklahoma. (My Mother-in law died 3 months earlier. Nothing was filed for her except death certificates to Social Security etc.) All assets except his home were sold or disposed of before death with power of attorney for both Mom & dad. (Home is still recorded in the names of both Mom & dad) His sons are trying to sell his home 'by owner', without going through probate or court appointment of representative of the estate. Buyer has been found but will finance with her bank. Will they be able to sell the home that way or will the escrow be held up because it has not been done? There are no debts, home is paid for and valued at appproximately 80,000. His wishes were that the proceeds be shared equally among his 3 grown children. All 3 are agreeable. There are no deceased children with living heirs
- Category: Real Property
- Subcategory: Sales
- Date:
- State: Oklahoma
Answer:
If the sons are not named on the deed as joint owners or as remaindermen, they cannot sign and transfer the deed as owners. In Oklahoma, a small estate procedure is available if the estate's value is under $150,000. This allows for a simplified process without full probate proceedings.
According to Oklahoma statute (58 O.S. § 241), if the estate's total value is below this threshold, the court can appoint a personal representative to manage the estate, which includes making an inventory and distributing assets. The process involves notifying creditors and interested parties, and a hearing will be set to determine heirship and distribution.
Since the home is still in both parents' names, the sons will likely need to go through this procedure to sell the home legally. They should consult a probate attorney to ensure compliance with the law and to facilitate the sale.
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.