Maryann Shaddow from On-Site Home Sales will speak

SUNSHINE CLUB

What happens with LW units when residents die? What procedures do loved ones need to be aware of? Maryann Shaddow from On-site Home Sales will discuss this and more at the Sunshine Club’s next meeting on Friday, May 20, in Clubhouse 3, Room 2, from 10 a.m.-noon.

All residents are welcome. Children or heirs are responsible for cleaning out units and either qualifying it to move in or selling it after a person in LW passes. However, because the Mutual maintains ownership of the property, it becomes responsible for protecting the assets in the apartment for the rightful heirs. If children or other heirs are not aware of the procedure, it can be unsettling during an already emotional time.

Children or heirs need to be aware that they will have to go through certain steps to gain access to the property.

Even if the heirs are present at the passing, they will still be asked to leave until they can present paperwork to Stock Transfer, which is open Monday-Friday, from 8:30 a.m.4:30 p.m. The heir will be asked to vacate the home until Stock Transfer establishes the rightful heir or Successor Trustee. Once that is established, the heir will receive a pass to come in and handle the estate.

Unfortunately, because this is such a highly emotional time, heirs are often upset when they do not understand why LW has these procedures. Residents can and should make heirs aware of the procedures and the reasons behind them. This will help reduce anxiety if they know what is expected.

Shaddow will also touch on the state of the current housing market for Spring 2022.

Shaddow has been a resident of Mutual 14 for 10 years and a realtor with On-Site Home Sales for four years. Prior to that she was an agent with an outside agency.

For more information, contact Anna Derby at (562) 301-5339