Why register the property?

01 May 2023 Zenas Chambers, ChimwaMurombe Law Practice To print this article, all you need to do is register or log in to Mondaq.com.

The property of a deceased person cannot be used as collateral or sold as it must form part of the deceased person's estate. In other words, when a person dies, all the assets and liabilities of the deceased belong to the estate, so creditors must claim their rights from the estate.

Many people do not realize the importance of registering inheritance assets to the extent that an amendment to the Administration of Inheritance Act 2001 criminalizes the failure to comply with the duty to register an inheritance.

Did you know. Failure to comply with the duty to register an inheritance within the prescribed time is a criminal offense. Paragraph 5(3)(a) of the Inheritance Administration Act 2021 states, "A person whose failure to comply with sub-paragraphs (1) to (3) of this paragraph is without good cause shall be deemed guilty of an offense and shall be liable to a fine not exceeding level one, or to imprisonment for a term not exceeding one month, or to both fine and imprisonment. "

Heritage estates must be registered because they only arise after a person's death. Estate planning is the process of developing plans to manage a person's financial affairs in the event of incapacity or death. Assets are left to heirs in preparation and inheritance taxes are paid.

Who should register an inheritance? After the death of the deceased, an inheritance must be registered within 14 days. Clause 5(1) states: "Report of death to Master, Deputy Master or Magistrate (1) When any person dies leaving his estate in possession, reversion or expectancy or leaving a will, the next of kin or relation of the deceased in the place of death or in the absence of such next of kin or relation, the person who immediately after the death has his principal abode in the house or place where the death occurred shall, within fourteen days thereafter, cause a notice of death in Form A in the Second Schedule to be served on him and shall cause the er

The death notice form and the inventory form containing the assets of the deceased shall be completed by the person in charge at the time of registration. A family member, friend or other person connected with the estate, such as creditors, can take the necessary steps to register the deceased person's inheritance if there is no surviving spouse.

What do you need to register an inheritance? You need to have a death certificate. To register an inheritance, visit the Master's office.

Why is it important? When someone dies, it is vital that their assets are collected to be sold, redistributed or to pay bills arising from creditors; this process is called settling probate and is carried out by the executor of the will. Inheritance registration is essential for heirs to legally dispose of the deceased's assets, such as real estate and chattels, which will be registered in the name of the deceased. The surviving spouse is entitled to receive household goods and effects from such an inheritance and the child's share of the free residue of the inheritance as his or her sole property if the spouses were married outside the community of the estate and the deceased spouse had children.

To find out if the deceased had a will. If the deceased had a will, it will be executed and the executor named in the will will be chosen according to the wishes of the deceased.

To avoid criminal prosecution. Inheritance registration is essential for heirs to legally dispose of the deceased's assets, such as real estate and chattels, which will be registered in the name of the deceased. Each person at some point may have assets or debts that can be referred to as his total assets or liabilities. Regardless of the amount of property, assets or liabilities a person owns - rich or not so rich - all of these things together make up their inheritance.

The registration process does not take long and is very simple. You can seek legal help and advice to make the process easier.

The content of this article is intended as a general guide to this topic. Professionals should be consulted about their particular situation.