Real Estate-Action Steps

Sale if property in sole name of decedent

  • Will must empower sale
  • Secure beneficiaries’ written consent prior to sale

Preservation of Real Property Pending Sale

  • Change locks, maintain security of house and yard
  • Identify any mortgage holder and contact holder
  • Check if mortgage insurance payable upon the death of the decedent; and, Pay monthly mortgage payments.
  • Inform utility companies 
  • Maintain adequate fire insurance until new owner takes possession

Real Estate In Virginia Has Unique Qualities

If owned with co-tenant with right of survivorship, title may pass without further effort, and may be sold.

Easy to Miss 

  • Rental properties or second home owned?
  • Third party paid any part of mortgage;  if so trace source of payments to purchase property and pay mortgage; and anticipate possible ownership claim by third party

Condominium and Townhouse Communities

  • Coordinate with building management or townhouse association
  • Ascertain documents they require to be signed.