At The Simple Settlement Co., we understand that dealing with the estate of a loved one can be a challenging time. Once you’ve obtained probate, it’s important to know what steps are involved in managing and distributing property. Here’s a detailed look at what happens to the property once probate is granted, guided by our experienced settlement agents. 

1. Engage a Settlement Agent 

The first step in effecting the requirements of probate is to speak to one of our expert settlement agents at The Simple Settlement Co. We help establish your timeframes and requirements for the transfer of property, ensuring a smooth and stress-free process. 

2. Review the Title and Probate 

Our settlement agents will review the title and the probate documentation to determine the next steps. This involves establishing whether the property needs to be transferred to a surviving registered proprietor or to the beneficiaries of the estate. 

3. Address Mortgages and Caveats 

If the property has registered mortgages or caveats, these need to be addressed. We will review the title to identify any such encumbrances that must be dealt with during the transfer process, ensuring all legal and financial obligations are met. 

4. Prepare Documentation 

Once the review is complete, we prepare all necessary documents. This includes all legal forms required for the transfer of property. We’ll schedule an appointment to meet with you to go through the documentation, sign the originals, and complete the required identification for all parties involved. 

5. Coordinate Transfer Duty 

If applicable, we will coordinate all transfer duty requirements for the beneficiaries of the estate. Transfer duty, also known as stamp duty, is a tax imposed on the transfer of property and must be settled as part of the probate process. We ensure that all duties are accurately calculated and paid on time. 

6. Arrange Settlement Requirements 

The final step involves coordinating all settlement requirements to fulfill the probate’s needs. This includes: 

• Managing bank loans and loan payouts. 
• Registering the new proprietor on the title. 
• Ensuring all legal and financial obligations are met to complete the transfer of property. 

At The Simple Settlement Co., we are dedicated to making the probate process as straightforward as possible. By following these steps, we ensure that the property is efficiently and legally transferred to the rightful beneficiaries, honoring the wishes of your loved one and providing peace of mind during this difficult time. Contact us if you need help with the probate process or for more information.