At Gibson & Mullennix, we understand that not all property and not all probates are million dollar Estates with the ability to pay for appraisers, attorney fees, and other expenses. The probate process can be an expensive one in some cases, but luckily in Mississippi there are a number of alternatives to probate. Will as muniment of title is common way to transfer real estate via will without the necessity of the full blown probate process.
Mississippi Code Annotated § 91-5-35 outlines this process:
“When a person dies testate owning at the time of death real property in the State of Mississippi and his will purports to devise such realty, then said will may be admitted to probate, as a muniment of title only, by petition signed and sworn to by all beneficiaries named in the will, and the spouse of such deceased person if such spouse is not named as a beneficiary in the will, without the necessity of administration or the appointment of an executor or administrator with the will annexed, provided it be shown by said petition that:
(a) The value of the decedent’s personal estate in the State of Mississippi at the time of his or her death, exclusive of any interest in real property, did not exceed the sum of Ten Thousand Dollars ($10,000.00), exclusive of exempt property; and
(b) All known debts of the decedent and his estate have been paid, including estate and income taxes, if any.”
If you have questions about your will or any questions regarding probate please give us a call.