Muniment of Title in a Nutshell
Testate or Intestate? Testate. Requires a Last Will and Testament that leaves real estate to someone else.
Assets Covered: Real estate only.
Dollar Limitations: The value of the decedent’s personal estate in the state of Mississippi at the time of death cannot exceed $10,000.00. Interests in Mississippi real estate and exempt property can be subtracted from the total value of the decedent’s personal state for purpose of determining whether the decedent’s personal estate is worth less than or equal to $10,000.00.
Who Can Benefit? The individual(s) or organization(s) designated in the will to receive the property.
Who Must Sign/File? A petition must be signed by all beneficiaries named in the will. If the decedent’s spouse is not named, the spouse must also sign the petition. Parents or guardians can sign on behalf of beneficiaries that are under a legal disability (for example, minor children).
Special Requirements: All known debts of the decedent and his estate (including estate and income taxes) must have been paid.
Explanation of the Mississippi Muniment of Title Procedure
A muniment of title is an alternative to probate that allows a judge to recognize a will as valid for the sole purpose of transferring title to real estate. Creditors are not notified no executor or executrix is appointed. The judge’s order in a muniment proceeding serves as a deed substitute to transfer the real estate to the individuals named in the will.
The petition must be signed and sworn to by all of the named beneficiaries. If a named beneficiary is under a disability (such as being underage), the petition can be signed by a parent or legal guardian. If the decedent leaves a surviving spouse who is not a beneficiary, the spouse must also sign the petition.
The muniment of title proceeding is only available if the value of all of the decedent’s property (other than real estate) does not exceed $10,000. Exempt property is not counted toward the $10,000 threshold. All debts of the decedent and the estate (including estate and income taxes) must be paid before the Petition to Admit Will as Muniment of Title is filed with the courts.
The muniment of title proceeding does not cut off the rights of an interested party to open a full administration or to contest the will. It simply allows the will to be admitted for a limited purpose without adversely affecting the rights of interested parties.
Because the proceeding is intended to establish who is entitled to the decedent’s property, it can be thought of as the testate counterpart to an heirship suit in an intestate estate. And like the heirship suit, it suffers from a major deficiency: it does not dispose of creditor’s claims against the estate. Because creditor’s claims are not addressed, a muniment of title proceeding will not usually establish clean title unless a great deal of time (usually 10 years or more) has passed since the decedent’s death. This time period is needed to allow all applicable statutes of limitations to run on any potential claims against the estate. Because of this time limitation, a Mississippi probate attorney will probably recommend a full Mississippi probate proceeding in most cases even though a muniment proceeding could technically pass title. This is a fact-specific determination, so you should speak to a probate attorney about your situation.