A lawyer discusses estate property closings by C. Jaye Berger

When someone dies owning real estate, that property usually becomes part of their estate and generally requires probate by the Surrogate’s Court in order to sell or transfer it to someone else. Joint tenancy does not involve probate. When someone dies, they can either die having a Last Will and Testament or they can die without a Last Will and Testament ie “Intestate.” The will sets forth who they want their property to pass to. The property can be shares in a co-op apartment, a deed to a condominium or a house. When someone dies having a will, the legal paper which allows the property to be transferred or sold to someone else is called “Letters Testamentary.” If someone dies without a will, it is called “Letters of Administration.” The executor is the person who carries out the wishes of the deceased person as stated in the will. There is usually also a lawyer for the estate and they guide the executor through the process. If there is no will, there is an administrator who is appointed by the court to carry out the requirements of the law regarding the estate. They can gather and sell the deceased person’s assets, including property, then distribute the proceeds as provided in the statutes of the State of New York. If the estate wants to sell a co-op, condo or a house belonging to the person who died, they will need to have Letters Testamentary or Letters of Administration to show that the seller has the legal authority to do so. When I handle such closings, these papers have to be presented at closing and be dated within six months of the closing date. Other documents will be needed, such as a New York State Release of Lien and one from the IRS, an Affidavit of Debts and Domicile. Arrangements will also need to be made in advance if the executors live in different states or countries. C. Jaye Berger, Esq., is the principal of Law Offices of C. Jaye Berger, New York, N.Y.