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Can an estate admnistrator sell estate property to make improvvements or pay debts?
Wiki User
∙ 14y ago
An Administrator has no authority to sell the real estate. They must apply to the court for a license to sell the real estate. The court will consider the petition and if they find the request to be reasonable will issue a license to sell. The license gives the Administrator the authority to sell and convey clear title.
Wiki User
∙ 14y ago
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What is an insolvent estate?
An insolvent estate is a the property of a deceased individual that has more debts than assets. Often the property must be sold to cover those debts.
Is the estate responsible for medical bills if there is no will?
Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.
If your mother dies and leaves no estate are her children responsible for paying her creditors?
A decedent's estate is responsible for payment of the debts. If there is any property in the estate, the debts must be paid before any property can be distributed to the heirs. If there is no property the creditors are out of luck.
What happens to your property if you die without a will?
The legal term for without a will is "intestate". If you owned real estate or other "probate" assets at the time of your death an Admnistrator would need to be appointed by the probate court and your property would be distributed according to your state or country laws of intestacy, after your debts have been paid. See the related question link to check the laws of intestacy in your state.
Are heirs responsible for deceased fathers debt In Idaho?
Debts of the DeceasedI am not an attorney/lawyer, so this answer will of necessity be a lay answer until it can be improved by a more qualified source.Usually, in most states the debts of a deceased do not just "go away or disappear." The "estate" is legally responsible for his debts. Of course, IF a deceased had no money or property [real or personal], then there IS NO estate, and there really are no heirs, and they do not have to pay the debts of the deceased.On the other hand, IF there is money or property [real and/or personal], then there is an estate, and the estate is legally responsible to pay just [legitimate] debts of the deceased. If there is no cash money in the estate, then the property of the estate must be used to pay the legal debts.Those debts are legally the responsibility of the estate. That means that if the deceased had any money or property, the debts must be paid before any distribution of those assets to the heirs. If there is enough money in the estate, then it is used to pay off the legal debts of the deceased.IF there is no money, or not enough, AND the heirs do not want to sell the property [real and/or personal] of the estate to pay the legal debts, and since the debt must legally paid, that means the heirs must pay the estate debts.
Can a house that was willed to someone be sold by the estate attorney even if the new owners want to do as they please with it?
The answer depends on the details. For example, if there are debts to pay and no cash, the property must be sold to satisfy the debts. A decedent's debts must be paid before any property can be distributed. In that case, the heirs can purchase it from the estate, thereby providing the funds to pay the debts.The answer depends on the details. For example, if there are debts to pay and no cash, the property must be sold to satisfy the debts. A decedent's debts must be paid before any property can be distributed. In that case, the heirs can purchase it from the estate, thereby providing the funds to pay the debts.The answer depends on the details. For example, if there are debts to pay and no cash, the property must be sold to satisfy the debts. A decedent's debts must be paid before any property can be distributed. In that case, the heirs can purchase it from the estate, thereby providing the funds to pay the debts.The answer depends on the details. For example, if there are debts to pay and no cash, the property must be sold to satisfy the debts. A decedent's debts must be paid before any property can be distributed. In that case, the heirs can purchase it from the estate, thereby providing the funds to pay the debts.
Can you get property that you were to receive from a will if the estate was probated and the property was sold?
If the estate was probated and the property was sold to pay the debts of the decedent you cannot get it back. The debts of the decedent must be paid before any property can be distributed to the heirs. If there were debts and not enough cash assets to pay them then the executor may need to sell the real property. An executor can sell real property if that power was granted in the will or if the court issues a license to sell the real estate. If you have questions about what was done you should call the attorney who handled the estate and ask to have the issues explained to you.
What happens to back taxes if the estate has no money?
If they are property taxes, there is a lien on the property. In those cases the property has to be sold to settle the debts. If there are no assets in the estate, the taxes won't get paid.
Are the surviving adult children responsible for paying off the debts of the deceased - including a mortgage - when there is no estate?
If the decedent owned real estate then there is an estate. The estate is responsible for paying debts before any property can be distributed to the heirs. If the assets are not sufficient to pay the debts then the estate is insolvent. There is a statutory order by which debts must be paid in that case.If the children want to keep the house then they must pay off the mortgage. If not then the bank will take possession of the property by foreclosure. The children are not personally responsible for any debts unless they co-signed or agreed to be responsible.
How do you transfer vehicle title when owner deceased and no will?
You open an estate. That is the purpose for the estate, to transfer property and resolve the debts of the deceased.
Who pays outstanding bank loan on personal property which is more than the value of the estate after death in NY State?
The estate is responsible for the debts of the decedent. The property should be returned to the creditor if possible. However, if the assets cannot cover the debts the estate is declared insolvent and the creditors are out of luck.
Does an estate have to sell real property to pay decedent's credit card debt?
If creditors have filed claims against the estate and there is no cash to pay the claims then the real property must be sold to pay the debts. The debts of the decedent must be paid before any property can be distributed to the heirs.
