You have inspired me. Many thanks for your kindness in providing the detailed descriptions. You are an extremely thorough and persevering lady.
Ms. Pat Malone said:
It’s really not that complicated. I had to transfer stock as well as real property. To effect the transfer, I called the stock company’s Transfer Agent and requested that they send me a Transfer Form. I filled in the blanks and took the form to my bank and they, smoothly, expedited the rest for me … no charge. Good luck!
Brooksye S. Gertsch said:
Wow! That is very useful information. I have worked in law offices as a legal assistant for several years and have never heard of that procedure. I certainly hope it is available in Colorado. I can’t tell you enough how much I appreciate your taking the time and effort to detail it. It sounds quite complicated but also like quite an efficient method of clearing things up. I know this will need to be done in order for me to lease or sell the mineral interest. Really, really appreciate your sharing the info.
Ms. Pat Malone said:
After realizing that probating my Father’s Will was going to be a long, expensive, drawn out process, an attorney friend suggested that I probate through a Muniment of Title. Even though the estate had more than real estate, it still was simple to probate. I live in Texas. Good luck!!! I have copied and pasted an explanation …
Muniment of Title
Historical Texas law created a unique concept known as the probate of a Will as a muniment of title. This concept is very unique to Texas, and it is generally not understood by attorneys in other states. This mechanism provides for a streamlined probate process, does not require the appointment of an administrator or executor, and it is the only mechanism by which you can probate a Will in more than 4 years. However, because this method is so unique to Texas, it can be difficult to use when having to deal with attorneys in other states, especially those that represent banks and other financial institutions.
The probate of a Will as a muniment of title is a mechanism where a Decedent’s Will is filed for probate, the Court recognizes the Will, but does not appoint an executor or administrator to administer the Estate. Rather, once the Court signs its Order establishing the Will as the Decedent’s true last Will, a certified copy of the Will and the Court’s Order can be used to transfer title in any property owned by the Decedent to those people listed in his Will. In essence, the Will and the Order serve as an equivalent to a new deed to any real estate.
The muniment of title method is most effectively used when the estate consists solely of real estate. If, however, the estate includes bank accounts or brokerage accounts, experience tells us that the attorneys representing those banks and financial institutions (who usually office in New York) do not understand this Texas concept. They will, many times, require us to convert the administration to either a dependent or an independent administration. While the muniment of title can be less costly than the traditional methods of probate, it becomes much more costly if you are required to convert it because of issues with a bank or financial institution.
As noted elsewhere in this website, a Will must be filed for probate within 4 years of the Decedent’s date of death. However, the Probate Code creates a small exception for Wills filed as a muniment of title. If the person filing the Will is determined to have not been at fault in not bringing the Will for probate within the 4 years, then the Court can recognize the Will through a muniment of title only.
One final note about the muniment of title. Although it may seem somewhat elementary, the muniment of title only applies when you are filing a Will for probate. It has no application if the Decedent died without leaving a valid Will. Likewise, the muniment of title is not available if there are debts outstanding that are owed by the Decedent, unless those debts are secured by real property. In the case where someone died without a Will and you would prefer to avoid the formal probate of the estate, see the Alternatives to Probate detailed elsewhere in this site.