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Updated over 8 years ago, 07/23/2016
Buying From A Dead Person: CA Affidavit for Real Prop., DE-305
Hello!
I've been searching around...tough to find direct answers on this one. Hoping for someone with past experience...
About to close my first deal, and I'll be buying vacant land from a person who inherited two parcels from their father. One went in their name, and I'm closing on that one. The adjacent, larger lot, somehow didn't get transferred to her name, yet she has a Will stating her as the heir (all appropriate docs submitted to county, supposedly).
I'd like to get this other, more valuable lot as well, so I'm attempting to help her gain the power to sell it. I've found there are "Simplified" Probate procedures (http://www.scscourt.org/self_help/probate/property/probate_simplified.shtml#z4), and the section/form "Affidavit Re: Real Property of Small Value ($20,000 or Less)" seems like the right choice.
Fill form, provide death cert, Will, request valuation from County Referee, notarize, and wait. Right?
Main question is, will this then provide the seller with a deed with her name, or simply the power to sell? In the latter case, would the next step be to file for a Letter of Administration? Maybe it is "Simplified" and I'm reading into it too much.
Thanks a ton, you brilliant equity experts! Equitexperts!