Some people invest in real estate solely for the sake of their children. In fact, I know a man who doesn’t have a single property in his name. Every property he owns is in the name of his wife and children. In the Holy Bible, Prov. 13:22 says: a good man leaves an inheritance to his children’s children. So leaving an inheritance for your children is a very good thing. If your properties are in your name, you have to make sure transferring them to your loved ones when the time arrives is done properly through a valid Will.

According to Wikipedia, a will is a legal document that expresses a person’s (testator) wishes as to how their property (estate) is to be distributed after their death and as to which person (executor) is to manage the property until its final distribution. This means that a will only describes how the property should be shared, it does not confer the title on the properties to the beneficiaries mentioned in it. For example, if a property inherited through a Will has a certificate of occupancy (C of O) title, the title does not automatically belong to the beneficiary of the property. To transfer property title of a deceased to the survivor/beneficiary mentioned in the will, a Deed of Assent (in the case of a valid will) or a Vesting Deed (no valid will) must be prepared and signed by the Executors or Administrators of the estate of the deceased. This implies that when you want to acquire a property that was inherited by the seller, in terms of documentation, you need to request for more than a will. You need to see the documents that show that the titles on the properties have been properly transferred to the beneficiaries.

www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys