UNLESS LAND TITLE IS IN A LIVING TRUST, PROBATE IS USUALLY REQUIRED

DEAR BOB: Four of us own a valuable piece of land that we want to sell in the next year or so. The problem is one owner is very ill and will probably die in the next few months. Is there any way to avoid having her share tied up in probate court so title can be transferred to her heir quickly after her death? A problem, however, is she has Alzheimer's and doesn't understand what's going on --Lucie R.

DEAR LUCIE: Presuming you hold title as tenants in common, not as joint tenants with right of survivorship, her share will pass in probate court according to the terms of her will.

Or, if she holds her share in her living trust, then probate court action is not required after her death and her successor trustee can easily transfer her share of the land to whoever is named in the living trust.

Unfortunately, because of the Alzheimer's disease, it's too late to create a living trust for her now to avoid probate. For more details, please consult a local probate attorney.

(For more information on Bob Bruss publications, visit his
Real Estate Center).

Copyright 2006 Inman News