Monday, July 19, 2010

How To Resolve The Issue Of Inherited Property

 When property owner do not transfer the the Title of property to their legal heirs(blood relative) while they are alive, or fail to leave a "will" stating who the ownership will pass to, problem arise for legal heirs when they try to claim the property after the property owner's death.
Currently, in order to inherit the property legally, heirs have to obtain a letter of Administration(in case a person dead after making a will;this letter establishes the right of the executor to execute the will) or a succession certificate (in case the person has died intestate- leaving no legal will); both documents are issued by the relevant court of law. However these legal procedures are rarely enforced, and as a result legal heirs usually face a variety of problems which include:

1)Possession Of Property:

Legal heirs who are not living in the property, or do not have physical possession of it, are unable to claim the property as their own.

2)Sale Of Inherited Property:

Legal heirs are unable to agree on the sale value of a property, as each legal heir might consult a different estate agent in order to obtain the maximum price.

3)Distribution Of Appropriate Shares:

If the inherited property is sold in the open market,it is seldom that each legal heir receives his/her due shares.
To avoid such difficulties, now legislation is needed which should require legal heir(s) in possession of the property to submit the list of names of the remaining legal heir(s)- within 90 days of the death of the property owner. He/she should also be required to file an application in the relevant court of law to obtain a letter of Administration or Succession certificate, as the case may be.
If this is not done, it should be considered a willful default and illegal possession by those legal heirs who are in the possession of inherited property with the intention of neither settling the matter with nor giving due share to other legal heirs; the government should also set a side penalty for such acts.
This will not resolve the issue of inherited properties within a specific time period, but will also save legal heirs from stress, aggravation, a sense of deprivation, and injustice. Once enforced this procedure will also discourage legal heirs from taking take the law in their own hands to settle property disputes.
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1 comment:

  1. in my case the will of my parents was executed, the family home left equally to four remaining children, but two decided not to leave depriving the others two of their of the occupiers has their own home and is renting it out. solicitors letters are ignored. All that remains is a very expensive process of applying for vacant possession via solicitors and barristers through the courts - so much for the English legal system!!!