Laws of Real Estate Succession
Monday, October 4th, 2010Real estate succession in the United States is governed by probate law on a state-to-state basis. Simply explained, probate is the process by which the estate of a deceased person is passed to the rightful heir. Real estate succession is a process of probate administered by the executor of a will, or if now will is in place at the time of death, the stipulations of state law.
Uniform Probate Code
The Uniform Probate Code was created by the National Conference of Commissioners on Uniform State Laws as a guideline for states by which to create a nationwide template for probate laws.
The code has been adopted in whole or in part by 18 states. The Uniform Probate Code is hundreds of pages long.
The document offers legal definitions for all aspects of estate succession law, sets forth provisions by which proper heirship and inheritance will be determined and gives states a basic template by which to govern issues of succession.
South Dakota Probate Code
Title 29A of South Dakota’s codified laws adapts the Uniform Probate Code to meet standards held by state legislators.
All of a deceased person’s estate, including real estate, in South Dakota passes automatically to the rightful heirs of said estate. If no rightful heir is apparent, or has not been named by a will, the state will determine who will rightfully inherit real estate.
Special provisions in the South Dakota probate include those for minors, by which any minor between 14-18 years of age is permitted to nominate a legal guardian to watch over real estate and other forms of inheritance until the minor comes of age. (more…)