DECEDENT
In real estate, a decendent is a deceased person.
One who is deceased with a will is known as a testator while a deceased person without a will is said to have died intestate.
When a decedent owns real estate, the property must be transferred to the appropriate heirs or beneficiaries. This process is known as probate.
Probate is the legal process of administering the estate of a deceased person by resolving all claims and distributing the deceased person’s property under the valid will. If the decedent died intestate, the property is distributed according to the laws of intestacy.
The probate process can be complex and time-consuming, and it is often advisable to seek the assistance of an attorney.
MORE REAL ESTATE TERMS
A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z
Featured New Home
Featured Mortgage Brokers
- GUARANTEED RATE INC, PARSIPPANY, NJ
322 ROUTE 46 STE 170
PARSIPPANY, NJ 7054 - Priority Mortgage Corp., mortgage broker in Worthington, OH
150 E Wilson Bridge Rd Ste 350
Worthington, OH 43085 - MOVEMENT MORTGAGE LLC, COLUMBIA, SC
1129 SPARKLEBERRY LANE EXT
COLUMBIA, SC 29223 - VENTA FINANCIAL GROUP INC, LAS VEGAS, NV
1300 S JONES BLVD STE 150
LAS VEGAS, NV 89146 - American Finance-Thomasville, mortgage broker in Thomasville, GA
15179 US Hwy 19 South
Thomasville, GA 31792