Can executor live in real property without paying rent to estate?

Answer 1

The executor has no legal right to live there rent-free, but this will depend on the probate laws of the state of probate. It is a tricky practical question because there are benefits and detriments to having the executor live in the house rent free.

Begin with the idea that an executor entitled to complete possession of all estate property during administration but is not allowed to use estate property for personal gain Also, executors must use assets of the estate to reasonably maximize income prior to distribution. Taking those at face value the answer is that the executor has no right to live there rent-free. Living rent-free is using estate assets for personal gain and not earning income. Theoretically it could be rented short term to someone other than the executor and the house would earn income. But renting houses on a short term basis is not recommended and usually not done because tenants may refuse to leave and have to be evicted through the courts. Or they may damage the house.

In the real world though it sometimes happens because there are benefits to having someone in the house rather than leaving it vacant. A vacant house costs more to insure than a house with a resident, so the estate saves on insurance. Another benefit is prevention of possible damage in case a fire starts or pipes freeze or vandalism occurs or contents are stolen or even if squatters break in. A person living there would be able to prevent serious damage.

The problem with those benefits is that aside from the extra cost of insurance, they cannot be quantified to see if they are worth more than not renting the place out. For this reason, it is generally held that an executor has no inherent right to live in the estate house rent-free. But the alternative is to pay higher insurance rates and perhaps pay to board up the house. Either way the estate will incur some expense to preserve the house. For this reason, everyone usually gets together and agrees on some compromise.

The executor might be the spouse of the deceased, and the property might be the house in which the executor lived prior to death - back to the question of practicalities

Answer 2

You need to review the provisions in the trust. The trustee only has the rights that are set forth in the trust. It is likely that the property should be providing income to the beneficiaries and the trustee is not acting in good faith. However, you should consult with an attorney who can review the details and explain your options.

You need to review the provisions in the trust. The trustee only has the rights that are set forth in the trust. It is likely that the property should be providing income to the beneficiaries and the trustee is not acting in good faith. However, you should consult with an attorney who can review the details and explain your options.

You need to review the provisions in the trust. The trustee only has the rights that are set forth in the trust. It is likely that the property should be providing income to the beneficiaries and the trustee is not acting in good faith. However, you should consult with an attorney who can review the details and explain your options.

You need to review the provisions in the trust. The trustee only has the rights that are set forth in the trust. It is likely that the property should be providing income to the beneficiaries and the trustee is not acting in good faith. However, you should consult with an attorney who can review the details and explain your options.

Answer 3

You need to review the provisions in the trust. The trustee only has the rights that are set forth in the trust. It is likely that the property should be providing income to the beneficiaries and the trustee is not acting in good faith. However, you should consult with an attorney who can review the details and explain your options.

Answer 4

Although the answer is yes it would have to be at the consent of the estate administrators and or other beneficiaries.