When you are dealing with land and a deceased Estate, your conveyancer/solicitor will use terminology you are not familiar with.
The first step is ascertaining if the deceased left a Will. If the deceased left a Will, the executor will need to apply for a Grant of Probate from Supreme Court of NSW. A Grant of Probate is a document issued by the Supreme Court of NSW acknowledging the validity of the deceased’s Will and authorizing the executor to administer the Estate.
If there is no Will, the next of kin of the deceased will need to apply for Letters of Administration. This is a document issued by the Supreme Court of NSW authorizing the next of kin (known as the “Administrator”) to administer the Estate according to intestacy rules.
Once Probate or Letters of Administration are obtained by the executor/administrator, the land is then able to be dealt with.
Land in NSW can be held by a person three ways. Firstly, as an individual, secondly, jointly with another person, and thirdly, as tenants in common with one or more persons. All these holdings are dealt with separately on death.
Holding land as an individual or as tenants in common with another person
If the deceased did not leave the land to a beneficiary by way of his/her Will, the land will need to be transmitted to the executor by way of a Transmission Application to Executor and registered with Land Registry Services with fees payable via the PEXA platform. The Transmission Application to Executor will enable the executor to sell the land and once sold, the funds of the Estate will then be distributed to the beneficiaries.
If the deceased left the land to a beneficiary under his/her Will, the property will be transmitted to the beneficiary by way of a Transmission Application to Beneficiary. Upon the payment of a $50.00 stamp duty fee and registration fees of the Transmission Application to Beneficiary with the Land Registry Services via the PEXA platform, the land will be transmitted into the beneficiary’s name.
Holding the land jointly with another person
If the deceased holds the land jointly with another person, the survivor of the land will become the registered proprietor of the land. To enable the land to be transferred to the surviving joint tenant, a Notice of Death form with evidence of the Death Certificate of the deceased needs to be registered with the Land Registry Services with fees payable via the PEXA platform.
At Everingham Solomons, we have the expertise to assist you with all legal matters regarding your land, because Helping You is Our Business.
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