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Can an executor place a house for rent that is still in probate?
Wiki User
∙ 10y ago
This question has two potential answers depending upon whether the executor is the one renting the property or the beneficiary designated to receive it under the will is renting the property. If you mean rented by the executor, it may be at any time as soon as the will is probated and an executor is appointed to act. (Or an administrator if there is no will.) Most states have a statute taken from the Uniform Probate Code that gives the executor possession and control over every asset of the estate during administration of the estate even to the exclusion of beneficiarires who are designated to receive the property. During administration only the executor may rent it out, but the executor retains the discretion to decide if renting it is beneficial to the estate. Thus, even though an executor has the power to rent it out, he or she does not have to do so and cannot be forced to do do by a beneficiary unless a court orders it. If you mean rented by the ultimate beneficiary, the beneficiary cannot rent it out until the executor formally transfers the property from the estate to the beneficiary even if the will explicitly gives the house to that beneficiary. Once it is transferred, it is no longer part of the estate and the executor has no legal right to possession or control, therefore no right to rent it out or refuse to rent it out. The transfer to the beneficiary might have to wait until final settlement of the estate just to make sure that it does not have to be sold to pay for debts or expenses. On the other hand, if an executor is reasonably certain that it is not needed for that, the executor may in his discretion transfer the property before finalizing the estate. I believe it is best to transfer the house as quickly as possible during administration as long as it is clear that there are sufficient liquid assets to pay for everything. That way the executor is no longer responsible for the safety of the asset and he or she has a happy beneficiary.
Wiki User
∙ 15y ago
Wiki User
∙ 10y agoYes, they can rent property on behalf the estate. The beneficiaries would benefit from getting more money.
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Can a co executor sell a house that is still in probate and possible a pending forecloser?
With the permission of the court, certainly. And you can't get out of probate until something is done with the house.
Can you find out who is executor of a will while the person is still alive?
If you know the court or office where the will was admitted to probate, you can find out there. The judgment or order admitting the will to probate and appointing the executor will be matters of public record.
In WI does said named executor have rights before the will is admitted to the court and if said executor does not open probate does he still have rights to execute the will?
No and no.
During the caveat does executor have power to act?
In the UK: The caveat stops the probate court from issuing probate, generally speaking the caveat is in place to prevent the estate from being distributed. Of course whilst the caveat is in place the estate could not be collected. However there is much work to be done prior to the submission of the probate application, for example if there was a property the executor would still be responsible for ensuring the property was maintained correctly, insurance would still need to be in place, utilities would need to be contacted. In addition the liquid assets would still not be collated. There is still lots to be done even though the caveat is in place. Of course eventually the executor would reach a point where they could go no further. However, the filing of a caveat holds the appointment or grant of probate in abeyance until the issue of the caveat is settled. Therefore the executor does not have the legal "power" or authority to act in place of the person who has died until Letters Testamentary have been issued.
My uncle has died and his house is part of the estate under probate. can we rent it out when it is still under probate?
Yes, the executor of the estate may do what they can to insure the value of the estate doesn't lose value. But the estate will need to file a tax return for the rental income.
Will named you as executor but living trust for the house has no executor named Am I still the executor?
The living trust has a trustee, not an executor. The will is a separate process and you would be the executor.
How do you become a executor of the estate in Colorado?
To become an executor of an estate in Colorado, you need to be named as such in the deceased person's will. If you're not named, you can still apply to the probate court to be appointed as an executor. This involves filing a petition with the court and providing necessary documentation, such as the death certificate and the will. It's advisable to consult with an attorney familiar with Colorado probate laws to guide you through the process.
Can an executor who is also a beneficiary in a will step down as executor and disclaim his inheritance even though the will has not been executed after ten years?
The will should have been filed in probate when the testator died. It is unclear from your submission whether the executor was appointed by the court. An executor has no power to act until they have been duly appointed by the probate court. Once appointed by the court the executor has the authority to settle the estate according the the provisions of the will, state laws and, very important, under the supervision of the court.If the court appointed executor doesn't perform their duties with expediency the beneficiaries can petition the court to have them removed and a successor executor will be appointed. In this case it sounds as though no one was concerned with a proper probate of the will if ten years has passed, someone thinks they are still the "executor" and the estate isn't settled. It would be interesting to know if indeed the will was ever properly filed for probate.
Can you probate a will personally?
No. A Will only goes into probate once the principal (the one who created the Will) has passed away. The Executor or the person in-charge of the principal's assets, would be the one to present the Will to court for probate. Even if there is no Will, the deceased person's assets will still need to undergo probate for the state to determine where and to whom his assets will go to.
Can I sell my father's vehicle if the vehicle is still in his name and he passed away?
You do not have the authority to do that. You can obtain permission from the probate court, or the executor of the estate. Often there is a small estate probate method that allows it to be done quickly and at limited cost.
Can an executor who is also a beneficiary get money from the estate while still in probate?
If the estate contains enough assets to settle all of the debts, they can. Also, the executor is, by law, entitled to be paid for their time. The rate is often set by law and the probate judge has to approve the distribution. If they have properly documented their time, it is reasonable to bill the estate and collect it.
How do you find out who the executor of your grandmas unclaimed money is when she did not have a will?
If your grandmother is still living, you can't. If she is deceased, the executor of the will is required to notify you if you are in the will. If there is no will, and your parents are deceased, then you should contact the probate court and/or executor.
