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Can an heir take out a loan against an estate in probate if the other heirs object?
Stevikus
An heir to an estate that is in probate can receive an "advance" against his or her beneficial interest in the estate. Because the "advance" only affects that heir's share, it can be done without the consent of the other heirs. Most of these transactions are structured as purchase agreements, not interest bearing loans. The advances are also "non-recourse" meaning that if the heir does not inherit enough to pay off the advance, the heir has no legal responsibility to repay it.
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∙ 14y ago
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How is the probate estate maintained?
Property in probate is maintained by other assets in the estate or by the heirs if they want to keep the property when there are no other assets that can be used for maintenance.Property in probate is maintained by other assets in the estate or by the heirs if they want to keep the property when there are no other assets that can be used for maintenance.Property in probate is maintained by other assets in the estate or by the heirs if they want to keep the property when there are no other assets that can be used for maintenance.Property in probate is maintained by other assets in the estate or by the heirs if they want to keep the property when there are no other assets that can be used for maintenance.
Can heirs transfer deeds to someone since the property is not yet partitioned and there is no will?
You need to consult an attorney who specializes in probate. The property cannot be transferred by heirs until the estate has been probated.You need to consult an attorney who specializes in probate. The property cannot be transferred by heirs until the estate has been probated.You need to consult an attorney who specializes in probate. The property cannot be transferred by heirs until the estate has been probated.You need to consult an attorney who specializes in probate. The property cannot be transferred by heirs until the estate has been probated.
How do you transfer the title to estate property into the names of the beneficiaries?
The decedent's estate must be probated in order for title to pass to the heirs legally. You should consult with an attorney who specializes in probate law.The decedent's estate must be probated in order for title to pass to the heirs legally. You should consult with an attorney who specializes in probate law.The decedent's estate must be probated in order for title to pass to the heirs legally. You should consult with an attorney who specializes in probate law.The decedent's estate must be probated in order for title to pass to the heirs legally. You should consult with an attorney who specializes in probate law.
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 order to the court delay the monies received by the heirs?
They want to make sure there are no further claims against the estate. Yes it will delay the heirs receiving their distribution.
What happens when you die and you have no heirs and you owe money?
Generally, your creditor(s) may petition the probate court to commence a probate proceeding for your estate if you have left any assets. Then, the creditor can file a claim against the estate. If you die with no assets in your name, your creditors are out of luck.
How do you transfer title to home in name of an estate to an individual if will never probated?
When a person dies owning real estate their estate mustbe probated in order for title to pass legally to their heirs. You need to consult with an attorney who specializes in probate law.When a person dies owning real estate their estate must be probated in order for title to pass legally to their heirs. You need to consult with an attorney who specializes in probate law.When a person dies owning real estate their estate must be probated in order for title to pass legally to their heirs. You need to consult with an attorney who specializes in probate law.When a person dies owning real estate their estate must be probated in order for title to pass legally to their heirs. You need to consult with an attorney who specializes in probate law.
When a person dies in VA who starts probate proceedings?
Anyone with an interest in the estate, heirs and those that are debtors of the estate can apply to open an estate.
How do you file a quit claim deed on dead parents and 10 children?
You don't. You must probate the estate of the legal owner of the property so title can pass to the heirs. You need to consult with an attorney who specializes in probate who can review your situation and explain your options.You don't. You must probate the estate of the legal owner of the property so title can pass to the heirs. You need to consult with an attorney who specializes in probate who can review your situation and explain your options.You don't. You must probate the estate of the legal owner of the property so title can pass to the heirs. You need to consult with an attorney who specializes in probate who can review your situation and explain your options.You don't. You must probate the estate of the legal owner of the property so title can pass to the heirs. You need to consult with an attorney who specializes in probate who can review your situation and explain your options.
In the state of Missouri do all heirs of an estate need to be notified when a will is entered into probate?
All of the heirs must be informed and either sign off on the petition to enter into probate or they filer must show they have served legal notice of the probate process.
What if the heirs do not have money to pay probate and the estate is only real estate?
In order to transfer the real estate, they will have to have an estate and someone with authority to sell the property. The executor could take a loan out against the property to resolve the debts or to cover costs until sale.
When someone dies who decides if there is an estate to execute?
The creditors and heirs at law generally decide whether the decedent's estate requires probate.
Can an heir buyout other heirs while estate is in probate?
If real property is involved the estate must be probated in court in order for legal title to pass to the heirs. Once the estate has been probated, the heirs can convey their interest in the real estate to whomever they wish. The property could also be sold by the court appointed administrator of the estate by a license to sell real estate issued by the probate court.
