Disclaimer: This article provides general information and does not constitute legal advice.
Detailed Answer
Automatic Transfer of Real Property at Death
Certain forms of property ownership let real estate pass outside probate. Joint tenancy with right of survivorship and tenancy by the entirety transfer title instantly to surviving owners. New Jersey also permits transfer-on-death deeds. Under N.J.S.A. 46:10B-4, you can record a deed naming a beneficiary who receives the property when you die. These methods avoid probate and speed up settlement.
Probate of a Will
If you hold property solely in your name without a survivorship arrangement or valid transfer-on-death deed, the estate must use probate to change title. In New Jersey, the probate process is governed by N.J.S.A. 3B:3-24. Probate ensures valid wills, notifies creditors, settles debts, and legally transfers assets. It may take several months and involves filing the will, appointing a personal representative, inventorying assets, and obtaining a court order to distribute property.
Helpful Hints
- Review your property deed to check for joint tenancy or tenancy by the entirety.
- Consider a transfer-on-death deed under N.J.S.A. 46:10B-1 et seq. for sole-owned real estate.
- Record any transfer-on-death deed with the county clerk before the death.
- Consult a licensed attorney if your estate has creditors or complex assets.
- Gather documentation (death certificate, original will, property deeds) before filing probate.
- Use small estate procedures for estates with limited assets to reduce cost.