Sale of property directly from deceased estates to third parties | 23 June 2015

Posted on: June 23rd, 2015 by June Theron

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.

For more information, contact us at STBB.

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