Can affidavit is acceptable to transfer the ownership out of estate?

Answer 1

We can accept affidavit for those policies where the face value is equal to or less than $25,000 and in order to transfer the ownership out of the Estate for policies where the face amount is more than $25,000 we will require the Probate papers naming the representative of the Estate, who will need to sign the ownership form naming the new owner of the policy or we can also accept the Declaration of heirs statement naming the heirs of the estate. If by "transferring ownership out of estate" you mean transferring assets to beneficiaries as opposed to insurance policies, you should check your state's laws on distribution of assets, transfers of personal property and conveying real property. To transfer ownership of stock certificates to a beneficiary, the executor must sign the usual papers a living person would have to sign to make the transfer along with other papers such as an affidavit of domicile and letter of instruction to make the transfer. An affidavit would not be sufficient. As to real property, a state might require that the executor distribute same by way of an executor's or administrator's deed, although that might be unnecessary in some states. Keep in mind that an affidavit is nothing more than a statement in writing made under oath. It is not a document of transfer or conveyance.