03/10/2024
What are the Key Features of Extrajudicial Settlement?
1.) No Court Intervention:
= Heirs can settle the estate among themselves without involving the courts.
2.) Agreement Among Heirs:
= All heirs must agree on how to divide the deceased's assets.
3.) Formal Documentation:
= The agreement is formalized in a written document called a "deed of extrajudicial settlement of estate and adjudication of estate".
4.) Notarization:
= The deed must be notarized by a notary public.
5.) Publication:
= The deed must be published in a newspaper of general circulation for three consecutive weeks.
6.) Registration:
= The notarized deed is filed with the Register of Deeds.
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Marba Realty & Development Corp
Maredith Mhayette E Batestil REB , REA
We can talk about the process...