legal
ESTATES
What the listing agent should look out for when the most recent owner of the property is deceased The following is a fictional (but very plausible) conversation between Betty Broker and Larry Lawyer: BETTY: Larry, I have a question for you on listing a property that belonged to John Johnson, who died a month ago. John’s daughter Annie, and her husband Bobby, came to my office to list the property BY RICHARD S. POE for sale. When I look up the PARTNER, LANCASTER, property in the tax records TROTTER AND POE, PLLC and the Register of Deeds, everything says the property is still owned by John Johnson and wife, Doris Johnson. I know Doris died three years ago, so I assume John fully owned the property at the time of his death. What do I need to look out for? I do have a copy of John’s will, which was filed with the Clerk of Court. LARRY: Well, I am glad you called before listing the property under the name of John Johnson or the Estate of John Johnson—a common mistake many agents make. North Carolina law makes it clear that upon the death of a property 6 INSIGHT • February 2020
owner, title to the property immediately vests in either the heirs of the decedent or the devisees named in the will of the decedent. It is never correct to list an owner as “Estate of _________.” Did you get a chance to see in the will how John Johnson left his property? BETTY: Yes, he left the property to Annie and her brother and sister in equal shares. Also, Annie said she was sworn in at the courthouse as Executor of the Estate. By the way, I feel so nosy reading the will. Should I feel that way? LARRY: Sounds like a lot of good progress is being made. As a prospective listing agent, you should absolutely ask to see and read the will to determine who owns the property. If you don’t understand the will or it makes a complicated devise, you will probably need to get some attorney help to determine who needs to sign the listing agreement and later the contract. BETTY: Just out of curiosity, what would have happened if John had not had a will? LARRY: Great question. As you remember from Real Estate School, when someone dies without a will, it is referred to
