Selling a property out of a deceased estate

There are two major differences between the sale of a property out of a deceased estate and a “normal” sale…

The ins and outs of subject to bond approval clauses

There should not be any delay in the transfer from a deceased estate if the necessary attention is given to the following requirements:

  1. Executor to sign the offer to purchase in his / her capacity duly authorized thereto by the Master of the High Court
  2. Master of the High Court to approve the sale of the property

It must, however, be noted that the estate administration process at the Master’s Office places additional requirements on the transfer. This includes issuing the Letter of Executorship and obtaining the Master’s consent by way of endorsement of the power of attorney to pass transfer, which can be time consuming.  

Executor to sign the offer to purchase

It is paramount that the duly appointed executor (in terms of the Letter of Executorship) signs the offer to purchase in his capacity as executor together with any other co-owners of the property. The Master will not accept an offer to purchase should the date of sale pre-date the appointment of the executor in the Letters of Executorship.

Master of the High Court to approve the sale of the property

Application for the Master to approve the sale of the property in terms of Section 42(2) of the Administration of Estates Act, 66 of 1965 is to be made by the executor by completing form JM33 which will be provided by the transferring attorneys with signature of the transfer documents.

This application has to be accompanied by the following documents:

  • Certified copy of the offer to purchase
  • Consent by all the heirs that the property may be sold
  • If there are minor heirs, proof that the selling of the property is in the best interest of the child in the form of a signed affidavit by the guardian and confirmation of where the child will stay after registration.

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Selling a property out of a deceased estate

There are two major differences between the sale of a property out of a deceased estate and a “normal” sale…

The ins and outs of subject to bond approval clauses

There should not be any delay in the transfer from a deceased estate if the necessary attention is given to the following requirements:

  1. Executor to sign the offer to purchase in his / her capacity duly authorized thereto by the Master of the High Court
  2. Master of the High Court to approve the sale of the property

It must, however, be noted that the estate administration process at the Master’s Office places additional requirements on the transfer. This includes issuing the Letter of Executorship and obtaining the Master’s consent by way of endorsement of the power of attorney to pass transfer, which can be time consuming.  

Executor to sign the offer to purchase

It is paramount that the duly appointed executor (in terms of the Letter of Executorship) signs the offer to purchase in his capacity as executor together with any other co-owners of the property. The Master will not accept an offer to purchase should the date of sale pre-date the appointment of the executor in the Letters of Executorship.

Master of the High Court to approve the sale of the property

Application for the Master to approve the sale of the property in terms of Section 42(2) of the Administration of Estates Act, 66 of 1965 is to be made by the executor by completing form JM33 which will be provided by the transferring attorneys with signature of the transfer documents.

This application has to be accompanied by the following documents:

  • Certified copy of the offer to purchase
  • Consent by all the heirs that the property may be sold
  • If there are minor heirs, proof that the selling of the property is in the best interest of the child in the form of a signed affidavit by the guardian and confirmation of where the child will stay after registration.

Follow Snymans on Facebook for more legal information, tips and news about property.

11339