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Can a mother become administrator of her son's estate if he had no will?
In the absence of a will, the probate court would typically appoint an administrator to handle the estate. The mother may be able to petition the court to become the administrator if she is next of kin and meets the legal requirements.
Can a executor withhold monies from an estate for 6 years?
They would not be withholding money from the estate. They hold the money on behalf of the estate. They do not have to distribute the remainder until all debts and liabilities are resolved.
Can you add to your estate money given to you in a trust?
Generally: Money given to you "In Trust" is not your personal property. It is not part of your individual estate. You would hold that money as a trustee for the benefit of others.
Does power of attorney have the right to hold money that is will to someone else for as long as they like?
Answer: When a person dies with a will, will need to determine if the person who is now deceased has appointed somebody to be the administrator of the estate. If so, this person will submit the will to the probate court to have the will probated. If the will does not call for an administrator, then it will depend on the law in the state to determine if there are any restrictions of somebody else being appointed as the executor of the estate. The potential executor would apply to the probate court for appointment. The administrator or the executor are under an obligation to settle the estate as quickly as possible. This means collecting all the assets of the estate, paying first all the estate debts, and then disbursing any remaining assets according to the terms in the will. Once the process is completed, the person will advise the probate court who will order the estate closed. Once the estate is closed, there are no other claims that can be brought.
What should a tenant to with the rent money when the landlord passes on?
If a landlord dies then the property becomes part of that landlord's estate until it is settled, normally by a Will administrator. You should still make your checks payable to the landlord and pay your rent on time. The landlord's administrator will give you further instructions if they change. It could take about a year for this to happen. When a person dies and has a sizable estate, typically of over $100,000, the estate gets into probate, a judicial process by which a will is administered after an ample period of time that is given to creditors to file a claim against the estate and for the administrator to dispute such claims if necessary. Eventually the property is sold or given to an individual. If you are still there as a tenant, instructions will be given for you to make payments to that particular landlord. Alternatively you can hold the money in escrow, but do not spend it.
Why does an administrator want her final settlement in probate of an estate to be laid over for 30 days for exceptions And does this action hold up the distribution of the estate monies?
So that they can give another 30 days for any debtors or beneficiaries to come forward. Yes, waiting 30 days does delay distribution.
How do you appoint someone to be administrator for you if your parents have died?
To appoint someone as administrator of your estate after your parents have died, you typically need to file a petition with the probate court in the jurisdiction where your parents lived. This petition should include details about the deceased, the proposed administrator, and any relevant documentation such as a will, if one exists. The court will review the petition and may hold a hearing to confirm the appointment. It's advisable to consult with a probate attorney to navigate this process effectively.
What does it mean to hold the note on real estate?
A note on property is just simply being owed money on a property in private financing. If a family member finances a home for you with their own money. You are making payments to that family member, they would hold the note and should be on the deed to the property.
Is the governor of Punjab also administrator of chandigarh?
Yes. He Hold Both Posts.
What are real estate title companies?
Title companies research the chain of title for the property before a home is bought. They make sure there are no liens, clouds on the title, or other encumbrances by doing a title examination. Basically they make sure the record title is A-OK. They can also perform the closing and can also hold deposit escrow money while the deal is pending.
Can you grant yourself a mortgage with funds from your own drawdown pension as a way of buying an investment property?
No. You cannot grant yourself a mortgage. There must be a separation of title.If you could create a trust to hold title to the real estate you may be able to borrow from your pension fund in the name of the trust. To create a trust you need to consult with an attorney. You may also be allowed to borrow money to purchase real estate from your pension fund. To find out whether you can borrow from your pension fund you need to ask the fund administrator.No. You cannot grant yourself a mortgage. There must be a separation of title.If you could create a trust to hold title to the real estate you may be able to borrow from your pension fund in the name of the trust. To create a trust you need to consult with an attorney. You may also be allowed to borrow money to purchase real estate from your pension fund. To find out whether you can borrow from your pension fund you need to ask the fund administrator.No. You cannot grant yourself a mortgage. There must be a separation of title.If you could create a trust to hold title to the real estate you may be able to borrow from your pension fund in the name of the trust. To create a trust you need to consult with an attorney. You may also be allowed to borrow money to purchase real estate from your pension fund. To find out whether you can borrow from your pension fund you need to ask the fund administrator.No. You cannot grant yourself a mortgage. There must be a separation of title.If you could create a trust to hold title to the real estate you may be able to borrow from your pension fund in the name of the trust. To create a trust you need to consult with an attorney. You may also be allowed to borrow money to purchase real estate from your pension fund. To find out whether you can borrow from your pension fund you need to ask the fund administrator.
Do developers need real estate licenses?
Most states do not require developers to hold real estate licenses
