Sale of Property Directly from Deceased Estates to Third Parties

knowledge is powerKnowledge is Power they say and how true it is for the Estate Agent that wants to be considered more than someone that just sells houses. We are fortunate as Estate Agents or rather Property Practitioners as we are now called, that we can now seamlessly share our knowledge and the industry updates we receive with our respective communities. Helping our neighbours to empower themselves and guiding them safely through their Real Estate experiences is certainly better than them feeling left in the dark? I think we have all had our fair share of loadshedding of late…

Here is a really nice bite sized tip from local Attorneys Smith Tabata Buchanan Boyes regarding selling property from a deceased estate. If you have a Deceased Estate’s related query then contact June Teron from STBB on 021 673 4700 or email her on junet@stbb.co.za

STBB Thought of The Week: Family members/heirs of a deceased person often erroneously sign an Offer to Purchase on behalf of the late property owner only to find that they had no authority to do so and that the agreement is therefore invalid.

When a property is sold directly from the deceased’s estate to a third party, it is the duty of the estate agents, heirs or family members negotiating the sale to obtain a copy of the deceased’s last will and testament to determine who has been nominated to act as Executor of the deceased’s estate.

Once the Executor(s) has been identified, Letters of Executorship appointing such Executor must be issued by the Master of the High Court and only an Executor who has been so appointed may accept and sign an Offer to Purchase on behalf of the deceased estate, thereby making such agreement lawful and binding on the deceased estate.

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