What happens when probate is granted in Victoria and assets are held interstate?

Introduction

It is not uncommon for an individual to own assets in more than one jurisdiction. If probate is granted in one state, territory or foreign country and there are assets located in another location, a question arises over whether a reseal of probate is required to deal with the estate assets.

This article will focus on the reseal of an interstate grant. For information on the reseal of an international grant, please read our previous article on Resealing Probate.

When reseal is required

The necessity of the reseal of probate depends on the nature of the assets and where the assets are located.

The most common assets in an estate are bank accounts, superannuation, life insurance, shares, and real estate.

The BSB number of a bank account determines in which state or territory the bank account is located. Most Australian banks are willing to accept a grant of probate in any Australian states or territories for the release of funds. Similarly, most superannuation funds, Insurance companies and share registries do not require a reseal to be issued in the state or territory where the assets are located.  

The tricky one is often the real estate. Whether a grant is required to be obtained in the jurisdiction where the property is located, depends on the rules of the land registry of that state or territory. From our experience, Queensland Titles Registry do not require the legal personal representative to obtain a grant of reseal if a grant of probate has already been issued in another Australian state or territory. However, Victoria Land Registry, New South Wales Land Registry, and South Australia Land Title Office require a grant of reseal in the respective states before the legal personal representative can deal with properties located here even if the probate is already granted in another Australian state or territory.

Please be aware that different asset holders have different requirements for the release of assets. A reseal of probate may still be required under some circumstances which are not discussed above.

What documents are required for a reseal

The documentation required for a reseal is governed by the rules of the Court in which the application is made. Normally, all the documents to be submitted for a regular grant of probate are required. This includes a copy of the death certificate, an affidavit of the legal personal representative, and a document declaring the assets and liabilities in the estate as of the date of death. As the original Will (if there is a Will) has already been deposited with the Court that issued the first grant, the reseal application will require production of the original grant of probate or a copy certified by the Court.

How Sharrock Pitman Legal assist?

At Sharrock Pitman Legal, our Wills & Estates team led by an Accredited Wills & Estates Law Specialist can guide both estate Administrators and Executors through the process of managing a deceased estate. Our Wills & Estates team has experience managing complex estates such as those which include business and interstate and overseas assets, trusts and blended families.

Please do not hesitate to contact our Wills & Estates team on 1300 205 506 or email willsandestates@sharrockpitman.com.au.

The information contained in this article is intended to be of a general nature only and should not be relied upon as legal advice. Any legal matters should be discussed specifically with one of our lawyers.

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