Detailed Answer
Under Florida law, a personal representative handles sale proceeds from real property in an estate. Heirs or beneficiaries must sign specific forms to authorize the distribution of net proceeds. These forms document the heir’s agreement and protect the personal representative from future claims.
1. Receipt and Release, Waiver of Further Accounting
Florida Probate Rule 5.360 provides the Receipt and Release, Waiver of Further Accounting. By signing this form, an heir acknowledges receipt of their share of sale proceeds and releases the personal representative from further liability. This form ensures clear documentation of distribution and finalizes the heir’s rights to those funds.
2. Disclaimer of Interest (Optional)
If an heir prefers to decline their share of estate funds, they can file a disclaimer under Florida Statutes Section 732.804–732.805. A valid disclaimer must be in writing, clearly identify the interest disclaimed, and be filed within nine months of the decedent’s death. See F.S. 732.804 and F.S. 732.805 for detailed requirements.
3. Small Estate Affidavit (When Applicable)
If the total estate (excluding homestead) does not exceed $75,000, Florida Statute Section 735.301 allows heirs to use a Small Estate Affidavit to collect personal property and sale proceeds without formal probate. All heirs must sign the affidavit under oath. Note that this procedure cannot transfer homestead real property.
4. Court Order to Approve Distribution
If an heir cannot be located or refuses to sign required forms, the personal representative may petition the court to approve distribution of sale proceeds. The court reviews notice requirements and competency. Upon approval, the court issues an order permitting the personal representative to distribute proceeds without the missing heir’s signature. See F.S. 733.605 (Powers of Personal Representative).
Helpful Hints
- Review each court order and form instructions before signing.
- Obtain and keep a copy of every signed form for your records.
- Consider tax implications before filing a disclaimer.
- A signed receipt and release generally prevents later challenges to distribution.
- Ensure small estate affidavits meet all statutory requirements if you use that method.
- If you have questions about your rights, consult a probate attorney promptly.