QUESTION
What does the undersigned, being persons entitled to notice of transfer of Real Estate of the deceased, waive their rights to ownership mean?
Asked on Feb 08th, 2014 on Estate Planning - Oregon
More details to this question:
I am currently in the process of probating a will and have the required documents from the court house. I need to know the purpose of a document that says, Waiver of Transfer of real Estate. Thanks!
10 ANSWERS
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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If the total gross value of his estate is more than $150,000, you will not use this form.
Answered on Feb 11th, 2014 at 3:56 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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If you need to ask the interpretation of a probate document, then You need a probate lawyer, to keep you out of legal trouble. An ounce of prevention is cheaper than a pound of cure.
Answered on Feb 11th, 2014 at 3:55 PM
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If someone wants to waive their right to the real estate they can but most people don't. This is not a document usually filed in a probate process.
Answered on Feb 11th, 2014 at 3:54 PM
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There is no such document that I am aware of in Nevada. You may want to consult an attorney. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
Answered on Feb 11th, 2014 at 3:54 PM
Thomas Edward Gates
If the beneficiaries have any ownership rights to any real property (House), they are waiving those rights so that the property can be sold unencumbered.
Answered on Feb 11th, 2014 at 3:52 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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I presume it means that they waive their rights in the property so that you can sell it on behalf of the estate. You should talk with a local probate attorney to make sure.
Answered on Feb 11th, 2014 at 3:51 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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I am not familiar with that form. My guess is that it is designed to reassure a buyer that all interested parties are in agreement with the transfer of the property. In Michigan, this is not necessary.
Answered on Feb 11th, 2014 at 3:51 PM
Commercial Attorney serving Chicago, IL
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Ashcraft & Ashcraft, Ltd.
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In circumstances where real property is being transferred to a legatee(s) as part of a distribution under the Will the other legatees under the Will are acknowledging that they have notice of the transfer and agreeing to surrender their interest in the real property. In effect the other legatees are agreeing to accept other assets as part of their distribution and permitting the recipient legatee(s) to receive an in-kind distribution of real property. This protect the other legatees in that they presumably are agreeing to the valuation of the real property. In the event the transfer is made due to a specific legacy to a particular legatee the others are acknowledging the asset is not needed to pay creditors and thus surrendering rights in the property.
Answered on Feb 11th, 2014 at 3:50 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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That doesn't sound like anything in an Oregon probate. If you are handling a probate involving real property, then you have potential liability very likely in the six-figure range. You really should get the assistance of an experienced probate lawyer to help you with this process.
Answered on Feb 11th, 2014 at 3:49 PM
It usually means that the person who signs the document has some sort of claim on the property but he or she isn't going to contest or challenge the transfer of the real estate to someone else.
Answered on Feb 11th, 2014 at 3:49 PM