Yes, the estate can sell the property to non-family members.
Siblings can force the sale of inherited property in Florida. All siblings must agree or the property will have to be sold and split up, as long as each of them are on the property's name and/or will.
Only if you want clear title to the property. If you fail to clear the lien, the property can be sold from under you. If the lien holder does not forclose you will still not be able to sell the property until the lien is satisfied. Just pay the debt, especially if it is valid. When you inherited the property, you inherited the debt.
While the property is in probate, there should be no problem. It happens all the time. All I needed was the death certificate and articles of administration.
On the amount the property went up in value from the value used in calculating the estate tax
The property goes into the estate and distributed. It is possible that it could be inherited. Most likely it will need to be sold and the proceeds divided between the children.
In Pennsylvania, there is no state inheritance tax on the sale of inherited property. However, capital gains tax may apply if the property is sold for a profit. It is recommended to consult with a tax professional for guidance specific to your situation.
Slaves were legally classified as property. They were considered to be owned by their masters and could be bought, sold, and inherited like other forms of property. This legal classification contributed to the dehumanization and exploitation of enslaved individuals.
Your basis in the property inherited is the fair-market value on the date of transfer. Therefore, there would be no tax due unless you sold the vehicle for more than the stated $45,000.
Chattel slavery is the term used to describe the type of slavery where a slave is considered the legal property of their owner and can be bought, sold, or inherited as if they were an object or piece of personal property.
Chattel slaves are individuals treated as property with no rights or freedoms of their own. They can be bought, sold, and inherited as part of personal property. This system of slavery was prevalent in the United States before the Civil War, where slaves were considered legal property of their owners.
No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.No. That property was no longer owned by the decedent if it was sold for unpaid property taxes.
I'm not absolutely sure with the State of Michigan but the Federal income tax, you are required to show income on property sold whether or not the property was inherited. It may also be different based on what kind of property you are talking about. The taxes may differ when you have real property like a home or other property like bank accounts, stock, insurance proceeds, etc. I would suggest that you have a professional prepare your taxes in a situation like this.