Irvine, CA (PRWEB) May 20, 2011
Deed and Record offers new service of transferring timeshare ownership interest from a decedent to the decedent’s heirs. An heir of a decedent wishing to take title of real property must use the probate court unless the decedent's aggregate interest in California realty does not exceed $20,000. In California the $20,000 limit in real estate value is rarely met except in the case of timeshares. The Affidavit for Real Property of Small Value is the perfect tool to transfer timeshares of a decedent who did not own any other real property in California.
This procedure is available to the decedent's "successors", that is, the persons succeeding to the property by will or intestacy. The following conditions must be met for this procedure to be available:
(1) the gross value of the decedent's real property in California does not exceed $20,000.
(2) at least 6 months have elapsed since the decedent's death
(3) either: (a) no proceeding for the administration of the decedent's estate is pending or has been conducted in California; or (b) the decedent's personal representative consents in writing to the use of this procedure;
(4) All unsecured debts of the decedent have been paid, as well as the funeral expenses and expenses of last illness.
The following documents must be attached to the affidavit.
(1) A certified copy of the decedent's death certificate
(2) A copy of the decedent's will where he or she claims under the will.
(3) If probate has been filed, the decedent's personal representative written consent to the use of this procedure
(4) An inventory and appraisal of the decedent's real property in California, excluding property not considered in computing the $20,000 limit must likewise accompany the affidavit. The appraisal must be by a probate referee appointed by the state controller in the county where the decedent's property is located.
Deed and Record will prepare the Affidavit Re Real Property of Small Value, obtain the appraisal, prepare the inventory and appraisal, and file the affidavit with the Superior Court and the County Recorder. The cost is $489 and includes all filing fees and cost of the appraiser.
For more information or to begin the process, call 949-474-0961, email Mark(at)DeedAndRecord(dot)com or go to http://www.DeedAndRecord.com