In many cases in Oklahoma you have to File Probate to Transfer Property to the heirs of the deceased person. When a loved one passes away, handling their estate can feel overwhelming, especially when it involves transferring property such as a home. In Oklahoma, whether you need to go through probate to transfer your parents’ home after their death depends on several factors.

Understanding Probate in Tulsa

Probate is the legal process where a court supervises distribution of a deceased individual’s assets. This is done while ensuring debts are paid and assets are distributed according to their will, or if there’s no will, according to state law. Most times you are required to File Probate to Transfer Property if the parent dies with or without a will and no other probated avoidance tools are in place when they died. Probate can be a lengthy and potentially costly process, but it’s not always necessary.

When Is Probate Necessary?

If your parents owned their home in their names only, without any other form of joint ownership or designation that automatically transfers property upon death, you will have to File Probate to Transfer Property to their heirs. This process ensures that the property is legally transferred to the rightful heirs or beneficiaries. However, there are several situations where probate may not be required to transfer ownership of a home:

Joint Tenancy with Right of Survivorship

If the property was owned in joint tenancy with the right of survivorship, it passes automatically to the surviving joint tenant upon the death of the other tenant. This means that if one parent dies, the surviving parent becomes the sole owner, without the need for probate. Upon the death of the surviving parent, if they are the last living joint tenant, the property would typically need to go through probate unless other arrangements, like a transfer on death deed, are in place.

Transfer on Death Deed

Oklahoma allows homeowners to use a transfer on death (TOD) deed. This deed allows property owners to name a beneficiary who will receive the property upon their death. This is one way to avoid probate. The owner maintains control over the property during their lifetime. This allows them to change the beneficiary or sell the property at any time.

Living Trusts

A living trust is another way to avoid probate. If your parents placed the home in a living trust, the property can be transferred to the beneficiaries of the trust without going through probate court. This process can be much faster than probate and offers more privacy.

Small Estates

In some cases, if the value of the estate is below a certain threshold and consists mainly of personal property. Oklahoma law allows for an abbreviated process known as a summary administration or the use of a small estate affidavit. These options can simplify the probate process or avoid it altogether, but typically do not apply to real estate unless other specific conditions are met.

Steps to Take

If you find that probate is necessary, here are the general steps that are typically followed in Oklahoma:

• Filing a Petition: You must file a petition with the probate court in the county where your parents lived. This petition will ask the court to officially begin the probate process.
• Notifying Heirs and Creditors: After the petition is filed, heirs and creditors must be notified. Creditors typically have a set period to claim any debts owed by the estate.
• Inventory and Appraisal: The estate’s executor or administrator will catalogue and sometimes need to appraise the estate’s assets. This includes the home.
• Paying Debts and Taxes: The estate pays any outstanding debts and taxes from the estate’s funds.
• Distributing Assets: When taxes and debts are settled, the remainder of assets can be distributed to the heirs. This distribution is done according to the will if one exists.

Tulsa County Probate Lawyers

Dealing with the transfer of a home after your parents’ death can be complex. Whether you need to File Probate to Transfer Property depends on how the property was held, the presence of any estate planning tools like TOD deeds or trusts, and the overall value of the estate. Each situation is unique, so understanding the specifics of your parents’ property and estate is crucial. If probate is necessary, knowing the steps involved can help you manage the process more effectively. An experienced probate lawyer can guide you through the process of transferring your parents’ home. To learn more, contact Tulsa County Lawyers Group by calling (918) 379-4864 or contacting us online.