People with a connection to a homeowner may feel an attachment to that homeowner’s real property. Children, grandchildren, unmarried romantic partners and even close friends may share space with an individual and expect to receive an inheritance after they pass. The home where a person lives is a reflection of who they are and is also frequently their most valuable property. When a homeowner passes, those expecting to inherit the home may wonder what comes next.
What do those expecting to inherit a home need to know about their rights regarding real property in Florida?
Some transfers are automatic
Occasionally, property owners may have taken steps to ensure that their chosen beneficiary immediately and automatically inherits the home where they live. They may have executed a lady bird deed. A lady bird deed naming an individual as a beneficiary allows for the transfer of the property outside of the probate process. Florida is one of the few states that acknowledge lady bird deeds.
Other times, individuals who already lived with a co-owner and who held title as joint tenants with rights of survivorship could inherit the property without it passing through probate court. Those named as beneficiaries of a trust that owns the home can also establish or maintain residence there without probate court involvement.
Probate transfers take time
Any estate that contains real property is likely to require formal probate administration. The process could take a year or longer to complete. Until the personal representative administering the estate notifies all interested parties and fulfills financial obligations, the final transfer of ownership may not occur.
If the prior owner named a person expecting to inherit as a beneficiary in a will, they may have a straightforward claim to the home. In cases where homeowners die without a will, there may be more challenges to address. Specifically, people have to establish that they are legal heirs under Florida’s intestate succession laws.
Spouses and children have protection under intestate succession rules and are often the parties to inherit real estate. Unmarried romantic partners, distant family members and friends technically have no inheritance protections under intestate succession rules in Florida.
Those hoping to inherit a home from an estate often have a lengthy probate process ahead. Insight and legal guidance can be valuable for those who hope to inherit a home where a loved one lived after their passing. Individuals expecting to inherit a home may need to discuss their circumstances with an experienced probate attorney accordingly. They can review estate planning documents and their legal rights under Florida state statutes at that time.