If my home is not in a trust, upon my death would it have to go to probate regardless of it’s current market value?
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If my home is not in a trust, upon my death would it have to go to probate regardless of it’s current market value?
Asked on May 13, 2009 under Accident Law, Michigan
Answers:
L.M., Member, California Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Most likely yes, unless the property is held in joint tenancy, in which case it goes directly to the joint tenant without having to pass through probate. Joint Tenancy with the Right of Survivorship is a type of joint ownership which exists when two or more people share equal, undivided interests in property. Joint tenancy is not limited to spouses. Upon death, the survivor or survivors automatically inherit the property interest of the deceased. If you are the sole owner of the property or it is held with others in another type of title, the home will have to pass through probate unless you place it into a living trust. The current market value of the home is likely irrelevant.
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