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 son weren't named on the deed as joint owners with right of surviviorship or as remaindermen of a life estate, then they will not be able to sign and transfer a deed as owners. In Oklahoma, a small estate procedure is available when the value of the estate is not more than $150,000. Please see the following OK statute :
§ 58-241. Dispensing with regular proceedings in estates under $150,000 — Notice to creditors and notice of hearing — Procedure.
A. If, upon filing a petition for probate and after the appointment of the personal representative, it appears that the value of the real and personal property in the estate does not exceed One Hundred Fifty Thousand Dollars ($150,000.00), the court shall order the personal representative to make an inventory of the estate, and the court shall appoint appraisers unless the court determines that appraisement is not necessary.
B. If, upon return of the inventory of the estate of the decedent, and appraisement of the estate if required, it appears that the value of the whole estate, both real and personal property, does not exceed One Hundred Fifty Thousand Dollars ($150,000.00), and upon application of the personal representative, the court shall dispense with the regular proceedings or any part thereof prescribed by law, and the court shall order notice to creditors, and issue order for hearing upon the final accounting and petition for determination of heirship, distribution and discharge; provided, nothing herein shall affect the lien upon any property for any estate or transfer tax which may be due upon the estate of the decedent.
C. Notice to creditors and notice of hearing upon the final accounting and petition for determination of heirship, distribution and discharge shall be published once each week for two (2) consecutive weeks in some newspaper of general circulation, published in the county where the probate is filed. If there is no legal newspaper in a county, then all such notices required by this subsection shall be published in a legal newspaper in an adjoining county having a legal newspaper. Notice to creditors and notice of hearing upon the final accounting, determination of heirship, distribution and discharge may be combined in one notice, referred to as a "combined notice". The notice to creditors or combined notice shall be mailed to creditors of the decedent as provided in Sections 331 and 331.1 of this title. Creditors shall file claims against the estate with the personal representative or the attorney for personal representative within thirty (30) days after the publication of the notice. Notice of the hearing or the combined notice shall be mailed to all persons interested in the estate of the decedent at their respective last-known addresses not less than ten (10) days prior to the date of the hearing, and the notice shall set forth a date by which final account and petition for distribution will be filed. The date of the filing shall precede by at least five (5) days the order allowing final accounting, determination of heirs, and of legatees and devisees, if any, and distribution.
D. The matter shall be set for hearing not less than thirty-five (35) days following the first publication of notice to creditors or combined notice, and upon the hearing the court shall, after proof of payment of funeral expenses, expenses of last sickness and of administration and allowed claims, issue an order allowing the final accounting, determining heirship and the legatees and devisees, if any, of the decedent, distributing the property of the estate and discharging the personal representative and surety or sureties on the personal representative's bond, or defer such discharge if in the discretion of the court such deferral is necessary or desirable.
Laws 1961, p. 441, § 1; Laws 1970, c. 98, § 1, emerg. eff. March 30, 1970; Laws 1971, c. 94, § 1, eff. Oct. 1, 1971; Laws 1973, c. 121, § 1, emerg. eff. May 4, 1973; Laws 1975, c. 33, § 1, eff. Oct. 1, 1975; Laws 1976, c. 78, § 1, eff. Oct. 1, 1976; Laws 1979, c. 46, § 1; Laws 1988, c. 228, § 2, emerg. eff. June 22, 1988; Laws 1993, c. 345, § 9, eff. Sept. 1, 1993; Laws 2004, c. 114, § 1, eff. Nov. 1, 2004.
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.