QUESTION
Does it cost money to put a beneficiary's name on a property? How?
Asked on Jul 06th, 2015 on Estate Planning - California
More details to this question:
Does it cost a beneficiary (granddaughter) to have their name put on the property after the owner dies?
13 ANSWERS
Corporate/Business Attorney serving Beachwood, OH
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Christine Sabio Socrates Attorney at Law
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The best way is to file a affidavit of transfer on death. This way you are not transferring any interest in the property, only designating who will receive title upon death of the owner. Attorneys charge different prices in different cities. But the average cost is $200 dollars plus recording fees.
Answered on Jul 09th, 2015 at 12:34 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Should be a few hundred dollars
Answered on Jul 09th, 2015 at 12:21 AM
No, aside from minor charges like drafting a deed and recording it.
Answered on Jul 07th, 2015 at 3:00 PM
You do not provide sufficient facts to answer the question. If the property was titled only in the name of person who died, then a probate proceeding would be necessary to convey title to the beneficiary. If title was in the name of the person who died and the beneficiary, as joint tenants with full rights of survivorship, then the beneficiary is now the sole owner. Nothing more needs to be done.
Answered on Jul 07th, 2015 at 7:46 AM
Estate Planning Attorney serving La Grange, IL
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Law Office of T. Phillip Boggess
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If you are talking about real estate, there is a filing fee that the county recorder will require. Other types of property (i.e.?bank account) shouldn?t require a fee.
Answered on Jul 07th, 2015 at 2:20 AM
Usually this is done by the executor/personal representative and the estate covers the costs/filing fees.
Answered on Jul 07th, 2015 at 2:07 AM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Sounds like you need a probate lawyer to clear titled
Answered on Jul 07th, 2015 at 1:59 AM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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Yes. Cost depends on numerous factors, including the size of the decedent's estate, how title was held, etc. See a lawyer.
Answered on Jul 06th, 2015 at 6:06 PM
Litigation Attorney serving St. Louis, MO
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Probate Law Center Richard J. Keyes, PC
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I am assuming in this case that you are talking about real estate and a beneficiary deed. There is a price for recording a beneficiary deed with the recorder of deeds and please note that a beneficiary deed needs to be recorded prior to the grantor's death. There is also the cost of the preparation of the beneficiary deed. Contact an attorney in regard to prices.
Answered on Jul 06th, 2015 at 5:38 PM
Denise Marie McBride
If the property is a probate asset, you will need to have a court order indicating that the beneficiary is the proper owner. Depending on the type of property and what you wish to do with the property, you may or may not need a transfer of title.
Answered on Jul 06th, 2015 at 5:19 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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You're talking about probate, I think. After the owner dies, property passes by will or intestacy through probate. Most people, when they say "property," mean real property. Real property is usually worth a substantial amount of money. The granddaughter should discuss her situation with a lawyer. It will be worth it.
Answered on Jul 06th, 2015 at 5:15 PM
Commercial Attorney serving Chicago, IL
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Ashcraft & Ashcraft, Ltd.
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If an asset of a decedent's estate has indicia of ownership, like real estate, car, boat, etc., then the distribution from the estate to the legatee should be by official transfer of the asset out of the estate. Typically, there is a fee to record a deed, or transfer title to a car or boat, identifying the transfer from the estate to the legatee. The representative of the estate should effect the transfer of the assets as required by the will, trust or laws of intestacy, as part of the administration of the estate. The estate representation would draw up the document but the legatee would have to pay the fee to file or record the document as the case may be. If the asset was held jointly with the decedent then the transfer is automatic on death. If the asset has a designated beneficiary then the institution holding the asset will complete the transfer to the beneficiary.
Answered on Jul 06th, 2015 at 4:46 PM
Edwin K. Niles
If the title was in the name of the deceased (alone), probate will probably be necessary in order to pass title. Yes, it will cost money. See a lawyer who specializes in probate.
Answered on Jul 06th, 2015 at 4:43 PM