While selling a property when someone has died is, in many ways, similar to the traditional conveyancing process, there are still some important differences and additional procedures that have to be followed. Although this can impact the length and complexity of a sale, there are fortunately several steps you can take to make things a little easier.
Check You’re Allowed to Deal with the Property
In an ideal scenario, your loved one will have made a will and their wishes will be made clear. If you are made executor, you will have a say over the administration and sale of the property.
However, if a will isn’t available, things are a bit more complicated. In this case, someone is made administrator – usually the closest living relative – and you’ll need to apply to the probate court for authority to act and obtain a certificate before you enter any agreement to sell the property.
Identify the Property
You’ll most likely know about any property your loved one had, especially if it was the family home. However, it’s still important to check that they were in fact the legal owner. Most property and land is now registered, and your conveyancing lawyer can simply search the Land Registry to confirm ownership. This can also be handy for establishing the extent of the property and any outstanding mortgages it might have.
Sometimes, the property will not have been registered, in which case you will need to find the deeds. They could be in the property itself or a place of safekeeping, like a bank or solicitor’s office. If there’s an outstanding mortgage, the lender will likely have the deeds and your solicitor can request them. If all else fails, your conveyancing lawyer may be able to reconstitute the title and apply to the Land Registry to be registered based on the available information.
Decide On the Valuation You Need
A formal valuation can help to ensure you deal with the estate properly, and is needed for calculating any inheritance tax. You can ask a local estate agent to perform this, or commission a report from a chartered surveyor.
An estate agent may agree to give a market appraisal for probate purposes free of charge, but their valuation may be on the pricey side if they hope to attract business. Try asking three agents, then averaging their valuations to find the most reasonable option. On the other hand, paying for a professional valuation by a chartered surveyor might be the best option if the property is high-value, non-standard or if there is any risk of contention.
Find a Property Solicitor Near You
Naturally, this blog is simply an overview of how conveyancing when someone dies works, and the actual process is complex and subject to personal circumstances. That’s why, if you need legal guidance, the team at Richards & Lewis is here to help. Our licensed conveyancers offer a fixed fee conveyancing service, providing you with counsel every step of the way. For more information, please get in touch.
