Legal vs. Equitable Title
Before getting into what counts as probate and non-probate property, we should pause to think about who owns the decedent’s property after he dies.
The short answer is that the heirs own the decedent’s property. Title to both real property and personal property passes immediately to the heirs upon the decedent’s death.
While ownership passes immediately, this does not mean that the right to possess the property passes immediately. During the administration of the estate, the personal representative holds legal title to estate property and retains the right of possession, but the heirs hold the equitable title to the property.
This is an important distinction that should be kept in mind while thinking about what is and is not probate property. That brings us to our next topic, namely, what is probate and non-probate property. Click here to continue reading. >>>>
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