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Yes, and frequently this is the case. (By "inherited home" I assume you mean property the decedent owned prior to death and that is not subject to a specific devise, "I have 123 Smith Street to Jen Doe."
In a normal probate, all of the decedent's assets are liquidated, their debts paid, the the remaining funds distribute to the beneficiaries of the estate (heirs.) Exceptions do exist.
First, the beneficiaries may agree to an in-kind distribution of some or all of the property. Sometimes this requires that the heirs satisfy the decedent's debts if there are insufficient other funds available to clear the debts. But, for this to work all the beneficiaries must agree to the distribution plan.
Next is specifically devised property. However, sometimes this property must be sold to satsify the decedent's debts. Whether or not this property is sold depends on your state's laws, and most states provide a plan on how assets are sold. For example, in California an estate contains a specifically devised item of property and other assets, the specifically devised property is sold only if the other assets do not satisfy the decedent's debt.
Although this general answer is provided by an attorney, it should not be taken as legal advice regarding your particular situation and no attorney-client relationship is established. For help with your particular legal situation, please consult with an attorney.
Wiki User
∙ 7y ago
Wiki User
∙ 12y agoNo. Once the executor has been appointed by the court, she/he has the responsibility of securing and safeguarding the property until it can be distributed once the debts of the decedent have been paid. Since the executor has that legal responsibility, they cannot allow people to come and go from the property, especially people who don't understand the probate process and may remove property from the premises.
No. Once the executor has been appointed by the court, she/he has the responsibility of securing and safeguarding the property until it can be distributed once the debts of the decedent have been paid. Since the executor has that legal responsibility, they cannot allow people to come and go from the property, especially people who don't understand the probate process and may remove property from the premises.
No. Once the executor has been appointed by the court, she/he has the responsibility of securing and safeguarding the property until it can be distributed once the debts of the decedent have been paid. Since the executor has that legal responsibility, they cannot allow people to come and go from the property, especially people who don't understand the probate process and may remove property from the premises.
No. Once the executor has been appointed by the court, she/he has the responsibility of securing and safeguarding the property until it can be distributed once the debts of the decedent have been paid. Since the executor has that legal responsibility, they cannot allow people to come and go from the property, especially people who don't understand the probate process and may remove property from the premises.
Wiki User
∙ 12y agoNo. Once the executor has been appointed by the court, she/he has the responsibility of securing and safeguarding the property until it can be distributed once the debts of the decedent have been paid. Since the executor has that legal responsibility, they cannot allow people to come and go from the property, especially people who don't understand the probate process and may remove property from the premises.
Wiki User
∙ 10y agoThere is certainly the possibility. The estate must be preserved and in many cases, having someone live there is a good idea.
Wiki User
∙ 11y agoWith the permission of the court, it can be sold as part of the liquidation of the estate. It must be sold for a fair market value.
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What are the chief legal rights accorded to an owner of real property?
A person who owns real property has the right to the use of, possession of. income from, and profits from the property. If a sole owner, they have the right to sell the property or leave it to someone in their will. If they die intestate the property will pass to their next of kin through a probate proceeding.
Heirs cannot agree one will not let other two have key to house or even let them in the house what are the other two's rights?
An estate that passes ownership to real estate must be probated in order for legal title to pass to the heirs. In the case of inherited real property, all the co-owners have the right to the use and possession of the whole property unless a different arrangement is set forth in the will.In your case, the estate must be probated. You must consult with an attorney who specializes in probate law in your jurisdiction who can file a probate so title will be legally vested in the heirs. Once the probate has been filed the three heirs will share legal ownership equally. If one heir desires to keep the others out, she must purchase their interest in the property. Otherwise all the co-owners have the right to the use and possession of the property and must be allowed entry.
How do heirs contact the Probate Court in Colorado?
An easy way to find contact information for Colorado Probate Courts is to perform an online search using "Colorado Probate Courts" or use the county, state + probate records for the local court.
Are heirs individually responsible for mishandling estate?
The heirs aren't the persons with the authority to "handle" an estate at all. If a person died owning property their estate must be probated, an estate representative must be appointed and the debts of the estate must be paid before any property is distributed to the heirs. Probate laws govern the distribution of a decedent's estate regarding creditors and heirs. If the court appointed estate representative mishandles the estate they are held personally responsible. If heirs convert assets to their own use, with or without the appointment of an estate representative, the "heirs" are held personally responsible and may find themselves in court for taking the decedent's property and not paying the creditors and/or the other heirs.
What estates must use probate?
wills with property involved
What does it mean to expend funds when talking about a probate case?
Probate is the legal process by which a person's final debts are settled and legal title to property is formally passed from the deceased to his or her beneficiaries and heirs. There are many arguments for and against probate and its value in an estate plan.
Your brother is refusing to leave your deceased mothers property and you have not signed the final probate yet?
You have not disclosed whether your brother inherited an interest in the property, why he should leave the premises or what your position is. Generally, in the US, title to real estate passes to heirs at the moment of death. As soon as the estate is filed for probate legal title is perfected. As an heir your brother may have the right to the use and possession of the property. You may add more details on the discussion page.
Can a husband and wife own property together with life estates?
You do not own property when you have a life estate. A life estate provides you with the rights to the use and possession of the property for the duration of your natural life.If a married couple are older and want to avoid probate but remain in their home they can transfer their property to their adult children and reserve life estates in the deed. They would no longer own the property but they would have the right to life use as expressed above. The children would own the property subject to the life estates.You do not own property when you have a life estate. A life estate provides you with the rights to the use and possession of the property for the duration of your natural life.If a married couple are older and want to avoid probate but remain in their home they can transfer their property to their adult children and reserve life estates in the deed. They would no longer own the property but they would have the right to life use as expressed above. The children would own the property subject to the life estates.You do not own property when you have a life estate. A life estate provides you with the rights to the use and possession of the property for the duration of your natural life.If a married couple are older and want to avoid probate but remain in their home they can transfer their property to their adult children and reserve life estates in the deed. They would no longer own the property but they would have the right to life use as expressed above. The children would own the property subject to the life estates.You do not own property when you have a life estate. A life estate provides you with the rights to the use and possession of the property for the duration of your natural life.If a married couple are older and want to avoid probate but remain in their home they can transfer their property to their adult children and reserve life estates in the deed. They would no longer own the property but they would have the right to life use as expressed above. The children would own the property subject to the life estates.
What legal interests and rights do you have with a real estate deed?
The grantee(s) on a deed is the new owner of the property. The new owner has the right to the exclusive use and possession of the property; they could sell the property; they can leave the property to their beneficiary in their will. If they die whthout a will, the property will pass to their heirs at law under the state laws of intestacy when their estate is probated.
What is the difference between right and interest in a property?
One AnswerAn interest in property means that you have a legal or equitable claim or right in property. A right in property is a legally enforceable claim. Used by themselves those legal terms are sometimes interchangeable.For example, a fee interest in property means you own it absolutely. You also own all the appurtenant rights that pass with the property such as easement rights. You can sell the property, devise it by your will or your heirs will inherit it when you die.A life estate is an interest in real estate that provides its owner with the right to the use and possession of the property for life. The life estate is extinguished upon your death. There is nothing left for your heirs to inherit.An easement right gives you a legally enforceable right to make a certain use of another person's property.
When an acre of land has been lived on solely by one heir for ten years all other heirs but two have signed land over to resident heir what are the rights of the two heirs who haven't signed?
The two heirs who did not convey their interest in the property still own their shares and have the right to the use of the whole property. The heir who acquired additional interests owns the property along with the other two all as tenants in common. If the person who resides on the property tried to mortgage or sell it, the title examination would disclose the additional owners and they would need to join in the action.
A establishes legal right to the possession of property?
If you own a real property that abutts a privately owned street and the owners of the street died over 40 years ago and no heirs have come forward to claim the street, what are your legal rights to build or subdivide the property? The city and county was given permission to use the street for public access and no property taxes were paid to the city for the use of the street.
