WILLS & ESTATES
Due to the complex nature of purchasing a property in a deceased estate , it ’ s highly recommended that purchasers make use of both a real estate sales agent and a conveyancer . Having a trustworthy and reliable team on your side such as Fitzanne Estates makes all the difference .
Q . HOW DO YOU TRANSFER A DECEASED ESTATE ?
When an immovable property ' s registered owner passes away , the property must be transferred to another person , usually a family member . The property must usually be transferred to an heir or beneficiary named in the decedent ' s Will , but it may also be done in accordance with the Intestate Succession Act in some cases . Immovable property transfers from the decedent ' s estate to the heirs or to a third-party buyer
are complicated processes that are best handled by conveyancing attorneys with experience in such matters .
Q . WHAT HAPPENS TO THE TENANT WHEN A LANDLORD DIES ?
Tenants are usually not required to move out upon the death of the landlord because lease agreements typically continue after his or her passing . After paying out the legatees , the executor of the landlord ' s estate will take over estate administration and transfer the " residue " to the heirs . The lease ' s rights and obligations will also be transferred to the heirs through this process .
At best , if the property has also passed to the heirs , they should let the lease run its course . If they decide to end the lease agreement with the tenant , it should be done with reasonable time to vacate as well as possible
80 SEPTEMBER 2022 SA Real Estate Investor Magazine