Muniment of Title is a method of probating a Will to transfer ownership of a residence. If you probate a Will as a Muniment of Title, a court accepts the Will to probate but will not open an estate administration. An estate administration is generally the process of appointing an executor to collect a deceased person’s assets, pay their debt, and distribute the remaining property under the terms of the Will.
Benefits of Muniment of Title
The Muniment of Title process is faster and far simpler than an estate administration. The process consists of filing the original Will with the appropriate court with an Application. Following a hearing to probate the Will, the process is complete.
No Estate Administration
The downside, however, is the very fact that there is no estate administration because the court does not appoint an executor. This means that if there are assets that need to be transferred other than real property or if there are estate debts apart from debt secured by real estate, Muniment of Title is not an appropriate probate process.
For example, if the deceased owned bank accounts, brokerage accounts, stocks, or bonds, these companies will only authorize a court appointed executor to collect the account. This means that unless the accounts have a designated beneficiary or transfer on death designee, probating the Will as a Muniment of Title will not work. While a Muniment of Title in Texas can be a useful probate tool, it does not work for most estates requiring probate.
Every estate is unique, and choosing the wrong type of probate can lead to expensive delays. If you have questions about Muniment of Title or probating an estate, let us help guide you through the probate process, contact us.
