Final answer:
When an owner dies testate, the will directs the distribution of their assets, with a court-supervised probate process to validate and execute the will. If there is a trust involved, it can facilitate a private transfer of assets outside of probate. A will can be contested, potentially leading to legal proceedings.
Step-by-step explanation:
If an owner dies testate with heirs, the transfer of title typically proceeds in the following manner:
- The will of the deceased individual, which is their letter of intent for asset distribution, will be brought forward.
- Once the will has been validated, the executor named in the will begins the public process of probate to administer the deceased's estate.
- Distribution of the deceased's assets will take place according to the wishes outlined within the will.
- In cases where the deceased also established a trust, the assets within the trust can be transferred by the trustee in a private manner and outside of the probate process according to the terms set by the deceased.
If the heirs or other parties contest the will, legal proceedings may determine the outcome of the estate distribution. It is essential for the will to accurately represent the wishes of the deceased and for it to be properly executed to prevent disputes.