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if the parents bought it themselves for the child then yes but if the child bought it then yes still.
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∙ 12y ago
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How do you sell stock of deceased parent?
The executor of the estate is able to sell assets of the estate.
Can an executor sell property not belonging to an estate?
That is the job of the executor. The sale of assets is one of the jobs.
When a parent dies and owns home do you have to sell to pay off debts?
If the other assets are not sufficient to pay off the debts, yes you have to sell it. The estate has to resolve all debts.
When real estate is in the name of the children of a deceased parent how can property be sold?
Only the guardian can sell, or the children when they are 18+.
How do you sell your deceased mother's car when you have power of attorney?
A power of attorney expires upon the death of the principal. You cannot use it to sell your mother' car because it is void. You should contact your local DMV to determine what is required in your state to sell a motor vehicle belonging to a deceased parent. Most probate courts have an expedited process when there is a small amount in assets such as a car. Inquire at the DMV and at your local probate court.
Can the inheritors force the executor to sell assets?
No, they cannot force the executor to sell assets. The executor is responsible for closing out the estate and settling debts. Then the distribute the assets.
Is it legal for a parent to sell property that was willed to his minor children from their grandpa and give the money to the named children?
The parent holds the rights to the property in trust for the child. They can sell the property and place the money into trust. When the child comes of age, or there is need to use the money, it can be put into use for the child's welfare.
Must a parent with lifetime rights sign sale contract?
You mean a contract to sell a property in which the parent has a life estate? No. If the children want to sell their future interest in the property, it is separate from the rights of the parent with a life estate. Similarly, the children do not need to be asked if the the parent wants to sell (or mortgage) his or her life estate to someone else. On the other hand, if the buyers want clear title, with no life estate, then you have a different problem: terminating the life estate, by merging it with the future estate, and what's in it for you?
What can little girls sell in spring?
If the girl's mother or father goes with the child, the child can sell cookies, spring flowers, beaded homemade bracelets. But, children should always ask a parent first and a parent should go with the child.
Is it legal for a parent to sell property that was willed and bequeathed to his minor children from their grandpa and then keep the proceeds without giving the money to the named children?
In short, no. Consult an attorney.
Why land is called fixed asset?
fixed assets are those assets which are not intended to sale. If we sell those assets then our business will not survive.
What is disposal of tangible assets in accountancy?
In accountancy, to dispose of assets means to sell or otherwise get rid of property. Tangible assets are assets you can see and touch, such as houses, cars, and land.
