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Can a property remain in a deceased person's name?
No, if the registered owner of immovable property has passed away, the property will need to be transferred to another person – usually a family member. Assets in the name of the deceased will have to be transferred to the heirs of the estate to be able to close off the estate and obtain the filing slip from the Master of the High Court, according to the Deceased Administration Act. The Master of the High Court appoints an executor to administer the deceased estate. The executor is the only person who is lawfully authorised and therefore allowed to deal with the assets of the deceased. This is done to ensure the orderly winding up of the financial affairs of the deceased, and the protection of the financial interests of heirs and beneficiaries. Immovable property can be sold by the executor of the deceased estate directly to a third-party purchaser, with the beneficiaries' consent. The executor will be required to sign the Offer to Purchase/Sale Agreement on behalf of the deceased estate, and eventually the transfer documents. The Conveyancer will need to obtain a Section 42 (2) Administration of Estates Act Certificate from the Master of the High Court where the estate was reported, to certify that the Master has no objection to the transfer. The costs of the transfer, including transfer duty, would usually be payable by the purchaser. The estate would carry the costs of obtaining rates and levy clearance certificates that are valid until after registration. The estate would also carry the costs of canceling any home loan(s) registered over the property.