• October 8, 2021

Selling property out of a deceased estate

Selling property out of a deceased estate

600 400 Prevance - Bridging Finance South Africa

 

If an agreement for the sale of immovable property is concluded and the seller dies before the property is transferred, the sale can still proceed.

Upon the seller’s death, his/her estate vests in the Master of the High Court until an executor is appointed.

Once appointed, the executor is enabled to sign the transfer documents. The power of attorney to pass transfer is then sent to the Master for approval and is then endorsed by him/her in terms of section 42(2) of the Administration of Estates Act 66 of 1965.

The heirs, who usually need to consent to a sale out of a deceased estate, need not give their consent, as the property was sold by the deceased during his/her lifetime. The property can then be transferred to the purchaser in terms of the Deeds Registries Act 47 of 1937.

Contact me should you wish to discuss the sale of property out of a deceased estate further.

Source: Miller Bosman Le Roux en die Phatshoane Henny Group

Head Office : 011-274-1700