Deed Transfer

[lcmboss]

Hello my name is Paul and I live in GA and my mother recently passed away in NY leaving the estate to my brothers and I, we are not going to sell this right away do we need to have the deed/ownership transferred to our names or can it remain in here name until the sale?

 

[FlyingRon]

The simple answer is you can leave it in her name. The longer action is you can't do anything with this property until it is probated. Once an executor is named and the rest of the estate is settled, you can discuss with an attorney if it is more advantageous for the estate to just sell the property or for you to take ownership of it. There's a lot of information that goes into that decision. What debts does the estate have? What other assets does it have? Is there a mortgage on the property, etc... You're going to need an attorney for probate anyhow. You should ask that person.