If the person who is deceased has a commerical property and at time of death there was no wil and/or trust can that property be quitclaimed...

Question

If the person who is deceased has a commerical property and at time of death there was no wil and/or trust; can that property be quitclaimed over to someone else without submitting the death certificate and Power of Attorney to the finance company.

Answer

No. Only the deceased had the ability to convey the property. If someone held a valid power of attorney that permitted it, they too could have done so, but only while the owner was alive. Once a person dies any and all powers of attorney they have given immediately completely expire. They are of zero effect or validity at that moment in time. The only way for the property to be conveyed now is for someone (and legally it can literally be anyone, although next of kin are favored) to file to open an intestate probate and ask to be appointed administrator of the deceased's estate. (Intestate just means there was no will). Only after being appointed administrator of the estate AND obtaining the court's permission, can anyone execute a valid deed for the property, or do anything else with it, such as lease it, etc.

Answer

If the decedents name was on the property, you will need to go through a probate process to get the title changed to the proper successor owner. The identity of that owner will depend on the application of the state law on intestacy, but is, in essence, the closest living relatives. You need to engage a probate attorney. If you are in our geographical area we we amy be able to assist. Only when the rightful owner's name is on th eproperty will you be able to transfer or borrow against the property. A few different rules apply if the decedent owned the property in joint tenancy with others, but I would need to see the deed to advise.