The decedent's estate must be probated in order for the heirs to have legal title to the real estate. All the heirs must sign the deed. If you want to sell the inherited real property the attorney who handles the estate can advise you.
Yes, in Ohio, if there are multiple heirs to a property, one heir can sell their share without the consent of the other heirs. Each co-owner has the right to sell or transfer their interest in the property without approval from the other co-owners.
There is no problem if the debts of the estate have been paid and the executor is the sole heir. However, if there are other heirs who want to sell the property and take their share of the proceeds the executor must buy out the interests of the other heirs. Otherwise, the heirs are entitled to a sale of the property and can file a petition for partition if the executor will not act.
The Administrator must petition the court for a license to sell the real estate if the real estate is to be sold. If the heirs at law will be keeping the property the probate proceeding is a public record and it documents the transfer of the property to the heirs. You don't need to do anything else. When the heirs decide to sell the property they can execute a deed with their names as grantors and cite the probate case as their source of title.
She must buy out the other heirs if she wants to keep the property. If she can't or won't then the other heirs can petition the court to partition the land. The court will appoint a commissioner who will make all the arrangements to sell the property. The commissioner will need to be paid and the real estate agent who handles the marketing and sale. There will also be court costs and other legal costs. The net proceeds, after all the costs have been deducted, will be divided equally among the four heirs.
Generally, no. Reverse mortgages do no require mortgage payments so foreclosures are rare. When the borrower dies the heirs have a generous time period to sell the property. If they don't sell it, or if the property is worth less than the mortgage, the lender can foreclose and only the mortgaged property is vulnerable to the foreclosure, not any other property in the estate.Generally, no. Reverse mortgages do no require mortgage payments so foreclosures are rare. When the borrower dies the heirs have a generous time period to sell the property. If they don't sell it, or if the property is worth less than the mortgage, the lender can foreclose and only the mortgaged property is vulnerable to the foreclosure, not any other property in the estate.Generally, no. Reverse mortgages do no require mortgage payments so foreclosures are rare. When the borrower dies the heirs have a generous time period to sell the property. If they don't sell it, or if the property is worth less than the mortgage, the lender can foreclose and only the mortgaged property is vulnerable to the foreclosure, not any other property in the estate.Generally, no. Reverse mortgages do no require mortgage payments so foreclosures are rare. When the borrower dies the heirs have a generous time period to sell the property. If they don't sell it, or if the property is worth less than the mortgage, the lender can foreclose and only the mortgaged property is vulnerable to the foreclosure, not any other property in the estate.
Although the heirs are not responsible for their mother's debts her estate is. That means that her debts must be paid from the estate before any distribution is made to the heirs. If the mortgage isn't paid the bank will take possession of the property and sell it. If there is a deficiency it may go after any remaining assets owned by the decedent. The heirs may need to arrange to sell the property to pay off the mortgage.
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.
The executor has the ability to sell the property. It is subject to court approval. They can also transfer the property to the beneficiaries. In which case they can then sell it.
If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.
The child who is living in the home will need to come to an agreement with the other siblings who are the new owners of the property along with the resident sibling. They may need, or decide, to sell the premises and divide the net proceeds among the heirs.The child who is living in the home will need to come to an agreement with the other siblings who are the new owners of the property along with the resident sibling. They may need, or decide, to sell the premises and divide the net proceeds among the heirs.The child who is living in the home will need to come to an agreement with the other siblings who are the new owners of the property along with the resident sibling. They may need, or decide, to sell the premises and divide the net proceeds among the heirs.The child who is living in the home will need to come to an agreement with the other siblings who are the new owners of the property along with the resident sibling. They may need, or decide, to sell the premises and divide the net proceeds among the heirs.
The heirs can only inherit what the decedent owned. If she didn't have clear title then you won't inherit clear title. At some point the title will need to be cleared up. That will be whenever you wish to sell or mortgage the property.
The Administrator doesn't need the heirs' permission per se. Generally, an Administrator needs to petition the court for a license to sell the real estate. The heirs will be given notice of the petition to sell and will have the opportunity to object. If all the heirs want to keep the real estate the Administrator has no need to sell unless there are debts to pay. The debts must be paid before any assets can be distributed to the heirs. You can add more details on the discussion page.