<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=2338195816503595&amp;ev=PageView&amp;noscript=1">

Estates & Real Estate - What You Should Know

Estates & Real Estate - What You Should Know


When someone dies and their house, condo, or agricultural property needs to be sold, the executor might engage a realtor. Executors and their realtors need to be aware of complicating factors regarding the sale of real estate held by an estate. 

Obtaining Probate

If the executor (or estate trustee in Ontario) is planning to sell real estate held in the estate and the deceased was the sole owner, probate1,2 will be required to transfer the property. When listing the property for sale before probate is granted, both the listing and any offers to purchase are to be made 'subject to obtaining probate.'

Check with Land Titles

It may be prudent to check with Land Titles to confirm the registered owner, as the transfer of title from jointly owned to solely owned might have been overlooked upon the death of the first spouse or common-law partner. A death certificate for the first spouse/partner would have to be located, and if not available, requested from Vital Statistics. 

When Joint Isn't Joint

Where an asset is registered jointly as tenants-in-common and one of the owners dies, their share of the title will not pass to the joint owner as it would with right of survivorship. It will form a part of the deceased's estate. Probate will be required to transfer the property. 

Minor, Dependent & Disabled Beneficiaries

When there are minor, dependent or disabled residual beneficiaries, there might be additional requirements3 for the proper transfer of the property. It is best for the executor to check with a professional such as Concentra Trust or an estate lawyer. 

Download full PDF from Concentra

1. Letters of administration for intestacies (no Will); known as the Certificat of Appointment of Estate Trustee in Ontario
2. Certain exceptions will apply in Ontario
3. Saskatchewan requires a Certificate of No Infants



About the author

Everything Retirement is passionate about creating stronger relationships with our members, clients and communities to improve their financial well-being and enrich people’s lives. We provide retirees and pre-retirees with the practical tools necessary to embark on a life of retirement with knowledge, insight and optimism.