Immovable property belonging to a deceased estate must be dealt with through the estate administration process and transferred through the Deeds Office by a conveyancer.
If the property is awarded to an heir in the Liquidation and Distribution account, section 39 of the Administration of Estates Act requires the executor to cause the property to be registered in the heir’s name, subject to the applicable deeds and Master’s requirements. The transfer generally takes place only once the estate account has become distributable and the necessary conveyancing documents and endorsements have been obtained.
An acquisition of property by inheritance or legacy is generally exempt from transfer duty, although conveyancing and registration costs can still arise. If the property is sold by the estate to a third-party purchaser, the purchaser’s transaction may attract transfer duty or VAT depending on the facts and tax status of the transaction.
Where the executor sells the property, section 47 and the terms of the will must also be considered. There is no reliable fixed timeframe for Master’s endorsement or Deeds Office transfer, so current progress should be assessed on the particular estate and conveyancing process.
See also: Can an executor sell property without the consent of the heirs? | Can a deceased estate be for sale?
Disclaimer: The information provided here is intended as general guidance only and does not constitute legal, tax, or financial advice. Every situation is unique, and legislation is subject to change. We invite you to reach out to our team at Wealth and Legacy Group for guidance tailored to your specific circumstances.