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Can executor of an estate legally rent real estate out named in a will when one heir will not give permission?
Wiki User
∙ 11y ago
There is no reason that the executor cannot lease estate property. As long as they get a fair market price for the lease. They would then be able to use the money to pay debts and taxes as well as maintain the property.
Wiki User
∙ 9y ago
Wiki User
∙ 11y agoAn executor that is also the only heir doesn't need to by property of the estate; he (or she) will get it all anyway. If you're asking "Can I buy Grandma's house from her estate for a dollar instead of selling it for a fair price so her estate can repay its creditors?" then no, that would be illegal.
A decedent's debts must be paid before any property can be distributed to the heirs. If the property must be sold to pay creditors it must be sold for fair market value. In that case, the heir can purchase the property for FMV and pay the debts through the estate or pay the debts from their own funds so they can inherit the property free and clear. You should obtain advice from the attorney who is handling the estate.
Wiki User
∙ 11y agoNo, they can only rent property that belongs to the estate. If it hasn't been transferred to the heir, it is still a part of the estate.
Wiki User
∙ 11y agoYes, the executor can rent property. It will help pay the debts of the estate.
Wiki User
∙ 11y agoYes, the executor can rent out real estate. It is their responsibility to maintain the assets of the estate and make sure it doesn't lose money.
Wiki User
∙ 11y agoYes, they can rent the property in the estate. They are required to maintain the estate and make sure it doesn't lose money.
Wiki User
∙ 9y agoThe executor can do what is best for the estate. That may include renting property to provide income and protect it.
Wiki User
∙ 11y agoYes, as long as it is at fair market value.
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Can a cousin be an executor?
Certainly. Anyone can be named an executor of an estate, whether related to the deceased or not.
Can you cash bonds if sister named executor?
Only the executor has the authority to liquidate assets of the estate.
How do you pass clear vehicle title in Washington when both people named have died?
You'll need a letter from the court to the executor of the estate, granting permission to dispose of the property.
Can a child who is not executor of estate be allowed to help the other two children who were named executor of estate in the cleanup of deaceased parents household with no spouse?
Certainly.
How can you have the court appoint a third party executor for Texas estate?
There are several reasons why the court would appoint a third party executor for a Texas estate. You can have the court appoint a third party executor for an estate once all family members that were named as executors are unsuitable to be an executor.
Is it executor under the Will or Executor of the Estate?
Not all wills name an executor. If an executor is named in the will they must submit the will to probate for allowance and petition for appointment as the executor. In that case they will be both the executor under the will and the executor of the estate once appointed.In some cases, the named executor has died. In that case the court must appoint another person to act as executor. In some cases the executor named in the will declines the appointment. In that case the court will appoint an alternate. Either of these executors can be referred to as executors under the will and they are both executors of the estate. It may simply be a matter of style.Some may acknowledge a distinction that a person who is executor under the will has not been officially appointed by the court and the executor of the estate has been appointed by the court and Letters Testamentary have been issued making the appointment official.
Can the court appoint an executor named in the will?
That is what needs to happen. The executor would apply to the court with a copy of the will and request the appointment. The court will then issue a letter of authority for them to act on behalf of the estate.
My mother died leaving no will therefore can someone be named the executor?
The will should have named an alternate. If it didn't, find some one who willing to do it. The estate lawyer must notify the court of the executor's death and petition for the appointment of a successor.
Is it illegal for an executor to withhold the name of the lawyer handling the estate from a named beneficiary?
yes
The Executor in a Will is deceased. Can a sibling of the deceased now be appointed?
The court will look at the Will to determine if an alternate executor is named. If not, then the state probably has a list of people, in order, who should be named as administrator of the estate. Relationship to the deceased executor is irrelevant.
Can a co executor of an estate make the other co executor turn over a benefit check to the estate?
Yes. The "other co-executor" has no reason nor right to withhold the check from being included in the estate unless it was payable upon death to another individual who is named on the check.Yes. The "other co-executor" has no reason nor right to withhold the check from being included in the estate unless it was payable upon death to another individual who is named on the check.Yes. The "other co-executor" has no reason nor right to withhold the check from being included in the estate unless it was payable upon death to another individual who is named on the check.Yes. The "other co-executor" has no reason nor right to withhold the check from being included in the estate unless it was payable upon death to another individual who is named on the check.
Can an executor of a will also be named an heir in the will?
Yes, it is possible for an executor of a will to also be named as an heir in the will. However, it is important for the executor to fulfill their duties impartially and in the best interest of the estate and other beneficiaries to avoid any conflicts of interest.
