Q: When my grandfather passed away, I found an old stock certificate and land deed title. Can I assume ownership of these?
He passed without a Will. The stock is for a company I believe was bought by another company, and the land deed is for undeveloped land. Companies have started sending letters to my home addressed to my grandfather asking to purchase the land from him. Since there was no Will, should I assume these certificates are worthless and the land will be reclaimed by the state? Or can I assume ownership? If so, how?
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A: In California, if your grandfather passed away intestate (without a will), the distribution of his assets, including the stock certificate and land deed, would be governed by California's intestate succession laws. Generally, close relatives like children or grandchildren are first in line to inherit. To formally assume ownership, you'll likely need to go through probate or a simplified probate alternative, and you may also need to conduct due diligence to ascertain the current value and ownership status of the stock and land.
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