Estate of.....

[Adrian Smude]

I have been seeing more properties with the owner name of "Estate of ...." I am having trouble figuring out exactly what this means.  Who is exactly the owner?  One of the people passed away 10 years ago so I find it hard to believe the who ever it was left to hasn't had it put into his/her name.  I'm sure this is something simple, but please help clarify for me.  Thanks!

[Rick H.]

The house doesn't care. 

If the heir(s) don't wish to sell or borrow, they don't see the benefit of spending the money, time and effort to transfer title, esoecially if a formal probate is required. 

Thus may be due to claims of creditors or familial disputes. Someday, a problem will incur that requires clearing title and that when it gets interesting. 

I've only seen about 4,000 or 5,000 of these exact situations. They are opportunities for the knowledgeable intelligentsia.