In cases where you jointly own property with someone, in most cases your partner, such as a house, bank account, or any other assets, their share automatically transfers to you upon their death. Along with that, responsibility for the taxes associated with that joint property transfers as well.
A Survivorship Application is filed by a surviving proprietor, in a case where a joint tenant on a property title has passed away, enabling the surviving proprietor to file an application to remove the deceased’s name, so that only the surviving proprietor’s name remains on title.
In order to file survivorship application, it is important to:
- Conduct the relevant title searches;
- Prepare an application to change the Certificate of Title;
- Certify the appropriate certification (a death certificate);
- Advise government authorities of the change;
- Lodge the documentation directly with the concerned parties; and
- Settlement with the bank.
It can be applied by:
- All the surviving joint tenants;
- The sole surviving joint tenant; and
- Executor of the last joint tenant on his/her behalf.
For survivorship applications, please contact us with your requirements.