Although this might seem like a simple question, it often becomes a problem when title to the property has been transferred to an individual or individuals upon the owner’s death and the persons that inherited the property want to sell it.

A safeguard against only one owner selling the property when several people inherited it is the title company’s title search.  A title company will hire an abstractor to search the title (a chain of records including recorded deeds on file at the courthouse in the jurisdiction where the property is located) in order to determine who currently owns the property and how title to that property is held.  The manner in which title is held will typically determine the division of proceeds or losses resulting from the sale of the property.

Also this process attempts to ensure to the buyers that the property is being transferred to them properly and that no one will come back after the sale claiming to own the property.  This is also why most people purchase title insurance, but we’ll discuss that another day.

Last Will and Testaments, Divorce Decrees, and other legal forms of transferring or dividing property can affect who owns the house.  So, if you inherit property it is prudent for you to make sure that you are the sole owner before selling the property.

On another note, if you are thinking about selling and would like to know what your home is worth, just CLICK HERE and we’ll send you a FREE Comparative Market Analysis.

Looking to buy and want a great deal?  Check out the BEST BUYS in the area.

Wishing you sunshine everyday and the home of your dreams,
Jeri