Handling a loved one’s assets when they pass away is part of the estate administration process. Some people might not realize just how much work goes into this. The administrator must locate assets and heirs, ensure that everything transfers to the new owners appropriately and handle the taxes for the estate.
Real property is one thing that requires careful planning. If there is a chance that any other party might stake claim to it, a quiet title action might be in order. This effectively cancels other claims, so the rightful owner won’t have to worry about someone coming to claim the property.
How is a quiet title action executed?
You must file the quiet title action in circuit court. This lawsuit determines the rightful owner of a property, which is especially helpful after the owner passes away. It doesn’t leave room for ambiguity and lets everyone know what to expect. The court looks into every aspect of the property to determine what should happen.
Why is a quiet title action filed?
Sometimes, the filing occurs only if there is a question about who is entitled to the property. Others might choose to file the action as soon as they find out they are the heir. This can also be beneficial if there are tax issues with the real property or if there are any errors related to the property.
Resolutions of other issues like boundary disputes, survey errors and lien challenges can come up during this legal proceeding. It can also deal with claims from missing heirs, which isn’t a common issue. If there are any doubts about the real estate, filing a quiet title action may be a good idea.
Are there any limits to a quiet title action?
Quiet title actions have some limits, so understanding these is critical. The property owner won’t have the same protections as the owner who recently passed away. In most instances, actions against the previous owner or estate aren’t possible.
The quiet title action is only one facet of handling an estate, so you should make sure that you fully understand what you need to do to protect yourself. Learn about how the terms of the estate plan impact you and find out what steps you need to take to protect yourself.