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Does a life estate deed automatically transfer to the person's heirs if they die before the life tenant?
Wiki User
∙ 14y ago
A life tenant has the use of the property as long as that tenant lives even if the deed holder dies. Exactly how the deed works depends on state law. It may need to be registered with the tax accessors office or some other agency and a tax or fee paid.
Wiki User
∙ 14y ago
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What is a will?
A will is a legal document that specifies how a person's assets and property are to be distributed after their death. It allows individuals to outline their wishes regarding beneficiaries, guardianship of minor children, and other important decisions. Having a will in place can help ensure that assets are distributed according to the person's wishes.
Does property and estate automatically transfer to the surviving children if the deceased did not have a will in the state of Texas?
In Texas, if a person dies without a will, their property will be distributed according to intestacy laws. This typically means that the property will pass to the surviving spouse and children in varying shares depending on the family situation. If the deceased had no spouse but had children, then the property would likely pass to the surviving children.
Can the Government claim back overpaid benefits from a deceased persons estate?
Yes, the government can do that. The value of the benefits is part of the estate. The assets of the estate have to be used to clear all debts before anything can be distributed.
Is the estate responsible for the persons debt after they pass away?
Yes. The estate is responsible for the debts of the decedent. Those debts must be paid before any assets are distributed to the heirs.
When you die can the collectors take your life insurance?
Yes, In most countries the law would require that the life insurance be paid into the dead persons estate - if the dead person owed any debts (to tradesmen, banks or for government tax) then the estate must settle these before the dead persons relatives can inherit from the estate.
How do you transfer vehicle title when owner deceased and no will?
You open an estate. That is the purpose for the estate, to transfer property and resolve the debts of the deceased.
What is a defeasance?
A condition of termination of an estate which automatically brings the estate to an end if the condition is satisfied
Can you transfer real estate title insurance to a buyer?
Not sure but i think can't transfer real estate title insurance to buyer
What percentages in fed Alabama and Huntsville taxes does a deceased persons estate have to pay not having owned any property?
If the value of the estate is low, probably none. The taxes are based on the value of the estate and most require at least $100,000 before there are any.
Transfer real estate property by will?
The transfer is done by the executor of the estate once the estate is settled. The will indicates who gets the rights in the property, but they are still subject to mortgage and liens and other items.
When a person dies is their estate automatically placed in probate?
It does not happen automatically. Someone has to file for the probate to be opened.
Is the executor entitled to the whole estate?
That depends on the wording of the will. Being executor does not automatically give you a right to the estate.
