After an real estate property is over 27 years old are you no longer able to gain tax breaks from its depreciation?

Can one obtain a life estate after a property is sold?

No. Once the property has been sold the grantor no longer has any rights in the property. Therefore, they can no longer reserve the right to a life estate. If the new owner is agreeable, the property could be reconveyed to the prior owner, then they could draft a new deed reserving a life estate.

Can a property that was sold for taxes be included in an estate?

No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.

What happens if you are left a property in a will but it was sold prior to death to pay for residential care?

You cannot inherit property from an estate which no longer owns that property.

In a life estate does the owner of real property still own the property if he has quit claimed the property to the remaindermen?

No. If the person who owned the land granted a life estate and conveyed the fee to the remaindermen then that person has transferred all her interest in the property. She no longer owns it.

What were the changes in the rights of the second estate as a result of the National Assembly?

Nobles were no longer able to own property

Is a will any good if the items in it at the date of death of the owner were items they no longer had Does it give them rights to the current house and items?

If a person disposes of property during her life that property is no longer part of her estate at the time of death. If the house was conveyed then the grantee now owns it. Depending on the circumstances the personal property may be in the decedent's estate especially if they were still living in the house at the time of death. You should speak with an attorney to sort out what property can be considered part of the estate.

Could a Living estate over ride a quick deed?

If the owner of property conveys that property by a quitclaim deed while they still own it then they no longer own the property. It is now the property of the grantee in the deed.

What is an ademption?

An ademption is a determination of what will happen in law when property left under a will is no longer in the testator's estate when the testator dies.

Both husband and wife jointly own property His mother has Life Estate but leaves home who owns the property?

The H & W own the property in fee. However, the property is subject to the life estate of the mother. If they wish to sell or mortgage the property she would need to sign the deed or mortgage. If she no longer lives there then they should obtain a release from her for her life estate and the release should be recorded in the land records. Otherwise, only a death certificate will extinguish the life estate as a burden on the property.

What happens if someone dies with no will and the family never changes the name on the deed to the property?

The property will remain in the estate of the decedent and no one will have legal title. In order for legal title to pass to the heirs the estate must be probated. No one can sell, refinance, insure or otherwise deal with the property until the estate is probated. The longer such a situation exists the more difficult and costly it will be to clear the title.Many such properties end up falling into disrepair and taken by the town for non-payment of property taxes.The property will remain in the estate of the decedent and no one will have legal title. In order for legal title to pass to the heirs the estate must be probated. No one can sell, refinance, insure or otherwise deal with the property until the estate is probated. The longer such a situation exists the more difficult and costly it will be to clear the title.Many such properties end up falling into disrepair and taken by the town for non-payment of property taxes.The property will remain in the estate of the decedent and no one will have legal title. In order for legal title to pass to the heirs the estate must be probated. No one can sell, refinance, insure or otherwise deal with the property until the estate is probated. The longer such a situation exists the more difficult and costly it will be to clear the title.Many such properties end up falling into disrepair and taken by the town for non-payment of property taxes.The property will remain in the estate of the decedent and no one will have legal title. In order for legal title to pass to the heirs the estate must be probated. No one can sell, refinance, insure or otherwise deal with the property until the estate is probated. The longer such a situation exists the more difficult and costly it will be to clear the title.Many such properties end up falling into disrepair and taken by the town for non-payment of property taxes.

Can executor sell property once deed is transferred to heirs?

Once they have transferred the property, it is no longer a part of the estate. If they try to sell it, they would be selling something they have no control over. They may be able to bring the property back into the estate, but it would take a court order to do so.

What is the proper meaning for REO in mortgage terms?

REO- Real Estate Owned or Bank owned, which means the real estate property is no longer mortgaged~ as a result of forfeiture or foreclosure.