How to Prepare an Affidavit of Survivorship?

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Answer :

An affidavit of survivorship is prepared when property is owned in joint tenancy and one of the owners dies. This document can apply to real estate, bank accounts or vehicles. The affidavit simply serves as notification that the Survivor is the remaining owner of the property.If preparing an affidavit of survivorship for real estate, you will need to check with the laws in the state you live in. Most states however, you will need to record the document at your county recorder’s office or wherever land records are filed. The affidavit of survivorship will let people know that you are the surviving owner of the property.In order to record the affidavit of survivorship, you will need a certified copy of the decedent’s death certificate, which sometimes may be requested from the recorder’s office as well. The affidavit that you will need to prepare will state the name of the decedent, the legal description of the property, the names of the remaining survivors and property owners and the affiant’s signature. You will usually need to sign this document in front of a notary public. Once you have the affidavit prepared and the death certificate, you can record the documents with the county recorder. Keep in mind that there will be a recording fee, which you can ask about beforehand if you choose.If preparing the affidavit of survivorship for other property such as bank accounts, also known as payable on death accounts, or you are a joint owner, you are able to still use the money in the bank accounts after the other owner of the account has died. Again, you will need a certified copy of the birth certificate and the checkbook or savings book and then you can transfer the account into your name alone.Affidavits of survivorship are also helpful for securities, vehicles and savings bonds. If you are able to transfer any of the property that was owned jointly before the co-owner died, you will save yourself in probate and attorney expenses. However, if you are not sure about any part of preparing an affidavit of survivorship, you should check with an attorney.

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