Will

What a "Will" Means in Real Estate

A will (formally the last will and testament) is a legal document that states how a person's assets—including real estate—are to be handled and distributed after death. In real estate, a will names who inherits property such as a primary residence, vacation home, land or commercial buildings and directs the executor to carry out those transfers.

Key elements of a will

• Testator: The person who makes the will; generally must be at least 18 and of sound mind.
• Writing requirement: Most states require a will to be written (typed or handwritten). Some states accept holographic (handwritten) wills under limited circumstances.
• Witnesses: Typically the will must be signed in the presence of at least two witnesses who are not beneficiaries.
• Executor: The person named to administer the estate and handle transfers of real property. (See executor.)
• Specific gifts and residue: A will can specify particular gifts (e.g., “my house to my daughter”) and name who gets the remaining estate (the residue).

How a will applies to real estate

When someone dies, their real estate becomes part of their estate. If there is a valid will, property is distributed according to the testator’s instructions. If there is no will, state intestacy laws determine inheritance (see intestacy).

Real-world examples

1. Transferring a family home

Scenario: John leaves a will that his family home goes to his daughter, Jane. Process: The executor files the will and death certificate with probate court. Once the court validates the will, it orders transfer and a new deed is recorded in Jane’s name. (See probate.)

2. Selling shared property after death

Scenario: Co-owner John dies without a will and his co-owner spouse wants to sell. Process: The deceased owner’s share goes through probate; the court determines heirs under state law. After heirs are identified, they and the surviving co-owner can cooperate to sell. Some sales may proceed more easily depending on state rules and title company policies.

3. Leaving property to multiple beneficiaries

Scenario: Mary leaves her vacation cabin to her three children equally. Process: The executor follows the will—children can sell and split proceeds or one child can buy out the others. The executor records the transfer with the county.

4. Unfunded trusts and wills

Scenario: Elizabeth has a will but did not transfer her real estate into a trust. Process: Her real estate still goes through probate despite other assets being in a trust. Funding property into a living trust can avoid probate for that asset. (See trust.)

Why a will matters for real estate

• Avoids unintended intestacy: Without a will, state law controls who inherits your property, which may not match your wishes.
• Reduces family disputes: Clear directions help prevent arguments over ownership and control.
• Can speed transfers: A valid, properly executed will generally makes probate and property transfers smoother than intestacy.
• Protects minors: A will can name guardians and specify how property should be managed for minor children.

Tips for writing a will that involves real estate

• Consult an attorney: Estate and property laws vary by state; professional advice reduces errors.
• Be specific: Identify properties by legal description or address so there’s no confusion.
• Keep it updated: Life events—marriage, divorce, births, deaths—may require changes.
• Name a reliable executor: Choose someone who can handle court filings and oversee transfers.
• Consider a trust for real estate: Placing property in a living trust before death can avoid probate for that asset and speed transfer to beneficiaries.

Common follow-up terms

If you’re learning about wills in the context of real estate, you may also want to read entries for probate, trust, executor, and intestacy for a fuller picture of how property moves after death.

Conclusion

A will is a fundamental estate-planning tool that specifies who gets your real estate and how it should be handled after your death. Proper drafting, clear property identification, and regular updates help ensure your home and other real property pass to the intended people with as little delay and expense as possible.