Assignment of Recorded Leasehold Interest

[handeone]

What is the name of your state?What is the name of your state? California A lessee had a 50 year ground lease in California, which commenced in 1982, on which he built buildings to operate and conduct a business.
In April 1989, the 50 year lease was recorded as a leasehold interest in real property by the Lessee. In October 1989, the lessee passed away. The ground lease went to his heirs, his son and daughter, per the terms of the ground lease, although through probate the lease was not actually listed as real property, but as a business. Probate also stated any property not listed, later discovered to also be split 50-50% to the same son and daughter. The son and daughter formed a partnership, which now runs the business and pays the ground lease. However, because ground lease was recorded in 1989, it is still officially in the name of the deceased lessee. What is the best way to get the recorded lease out of the deceased lessees name and into the partnership name. Who signs for the deceased lessee? Is there an affidavit of death that needs to be filed? What would be the steps one needs to take? The son is also executor of the deceased lessees estate.

 

[HomeGuru]

What is the name of your state?What is the name of your state? California A lessee had a 50 year ground lease in California, which commenced in 1982, on which he built buildings to operate and conduct a business.
In April 1989, the 50 year lease was recorded as a leasehold interest in real property by the Lessee. In October 1989, the lessee passed away in 1989. The ground lease went to his heirs, his son and daughter, per the terms of the ground lease, although through probate the lease was not actually listed as real property, but as a business.

**A: the probate attorney was in error as the estate assets should have been listed as 2 separate items; the business and the leasehold interest in the real property.
********
Probate also stated any property not listed, later discovered to also be split 50-50% to the same son and daughter. The son and daughter formed a partnership, which now runs the business and pays the ground lease. However, because ground lease was recorded in 1989, it is still officially in the name of the deceased lessee. What is the best way to get the recorded lease out of the deceased lessees name and into the partnership name. Who signs for the deceased lessee? Is there an affidavit of death that needs to be filed? What would be the steps one needs to take? The son is also executor of the deceased lessees estate.

**A: why didn't the probate attorney take care of this? One way would be to do an assignment of lease beteen the landowner Lessor and the partnership Lessee.

 

[handeone]

Thank you for your response. The landowner has just recently done an assigment of lease to the partnership, but it is just a 4 page assignment signed by landowner and partnership partners. Signatures are original but not notarized. How do I go about getting it recorded so when they run a title reoport the partnership shows up as current owner rather than deceased lessee? Thanks.

 

[HomeGuru]

Thank you for your response. The landowner has just recently done an assigment of lease to the partnership, but it is just a 4 page assignment signed by landowner and partnership partners. Signatures are original but not notarized. How do I go about getting it recorded so when they run a title reoport the partnership shows up as current owner rather than deceased lessee? Thanks.

**A: the assigment must be an officially recordable and notarized instrument. Do you think that you need to consult an attorney? Or should I offically tell you to do so?

 

[seniorjudge]

Q: he landowner has just recently done an assigment of lease to the partnership, but it is just a 4 page assignment signed by landowner and partnership partners. Signatures are original but not notarized.

A: Who is responsible for this error?

 

[HomeGuru]

Q: he landowner has just recently done an assigment of lease to the partnership, but it is just a 4 page assignment signed by landowner and partnership partners. Signatures are original but not notarized.

A: Who is responsible for this error?

**A: it could not be the orginal lessee.