Once a loved one passes away, their property and assets become ‘deceased estates’. These are best dealt with by a beneficiary of the property, who has been granted permission by the owner of the property to administer the estate upon the owner’s death.
When it comes to dealing with a deceased estate, the transmission application is a key component. It enables the property’s sole owner or tenant to transfer their share of the estate to one or more beneficiaries. This may sound like a stressful process, but it doesn’t have to be…
At Cape Settlements, we will assist you throughout the entire process, ensuring it’s a seamless one. We know that this can be an emotional time, so we won’t rush your decision-making about your loved one’s estate either; the majority of cases allow a full year.
The First Step: A Grant of Probate or Letter of Administration
For anyone who has been appointed as the person to execute or administer a loved one’s will, the first step in most cases is to apply for a Grant of Probate or Letter of Administration. If the deceased was the only proprietor and tenant of their estate, lodging of a Transmission Application will be required after the Grant of Probate is approved.
These letters are the official documents confirming that the property of the deceased, or a portion of it, has been transferred to the executor, being you. If there are other beneficiaries, the next step will entail you transferring the property, or some of it, to them as required. There’s no need to feel overwhelmed by all the nitty-gritty; as soon as your Letter of Administration arrives, we will be there to guide you through the process.
We do the hard work for you
When it comes to deceased estates and the beneficiaries involved, each scenario is different, and so we treat each case and each client as unique. We begin with getting to know you, so that we can truly get our heads around your situation.
Our next step involves liaising between beneficiaries, and scrutinising every piece of paperwork – giving you peace of mind that your loved one’s estate is being dealt with the way it should, and that nothing has been overlooked. If you’re concerned about feeling like you’re ‘out of the picture’, know that we keep you in the loop the entire time, remaining 100% transparent about each and every step we take.
This is required when there is survivor of a property, who was a joint tenant with the now deceased. After lodging a Survivorship Application, the balance of the property is transferred to the survivor. A Grant of Probate is not necessary in this scenario, however if there is a registered mortgage for the estate, permission from the bank is required.
To remove any extra stress, we can attend a settlement with the bank if you’d like, liaising with them on your behalf.
Work with us, and the legalities and processes surrounding deceased estates and transmission applications will remain straightforward. At Cape Settlements, our highly experienced team provides a personalised service, making this difficult time as easy for you as possible. Contact us today about and find out how we can guide you through each and every transaction.