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Does wv law require an executor to secure real property until probate occures and the estate is settled?
Wiki User
∙ 11y ago
That is the responsibility of the executor. They have to make sure that the assets are preserved.
Wiki User
∙ 11y ago
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Does property have to be sold during probate?
Yes, the executor can sell the house. It will become a part of the estate and will escheat to the state if there are no beneficiaries.
Can cd's be cashed in that belong to a dead person before the will is probated by the executor?
Most states require filing of probate as a first step in appointment of the executor, which then gives the executor the power to collect and appraise the property of the estate and liquidate the portfolio for distribution.It depends on what you mean by "probated." Probate includes the entire process, which can last for years, until all assets are distributed. "Before the will is probated" could be taken to mean "before probate is filed", or "before everything required under probate is completed."So, technically yes, if the latter, because an executor has the power to do that DURING the probate of an estate. However, if the probate has not yet been filed, nobody has the power, as it died with the owner. Many elderly have ownership of such things placed into joint tenancy with right of survivorship, so that another person can immediately access the funds without probate.
You want to remove yourself as an executor?
You are not an executor until you have filed the will for probate and been appointed by the court. You may resign by filing a resignation with the court. The court will require that you file an account and will appoint a successor.
Can a executor do a loan mod to save the home?
The executor is required to preserve the estate. That may require a loan modification. They can also sell the property.
Do you have to hold money in an account for any period of time after the sale of a deceased parents home?
The estate must be probated in order for title to the property to pass to the heirs legally. The court must appoint an executor who will have the authority to settle the estate according to the provisions in the will and the state probate laws under the supervision of the court. Probate laws require a notice to be published in the local newspaper to notify the world of the probate proceeding. Each state has a time period during which creditors can make a claim against the estate. The debts of the decedent must be paid before any property can be distributed to the heirs.Once the period for creditor claims has passed the executor can sell the property if that power was granted in the will or if the executor obtains a license to sell from the court. Otherwise, once the estate has been settled and the heirs have acquired legal title to the property they can sell it.You should consult with an attorney in your area who specializes in probate law.
How do you become a court appointed executor?
You file the will with the probate court with a petition asking that the will be allowed and that you be appointed the executor. If there is a named executor in the will who has died or who does not want to serve you should provide proof to the court.
Does a will require probate for closure?
Yes. The executor must be appointed by the court. Until officially appointed the executor has no power to distribute the decedent's assets. The title to real property cannot pass to the heirs legally until the estate has been probated.Not every will has to be probated just for the sake of closure. For example, if a decedent has no assets at all then there is no legal reason to probate the will even though there is one in existence. This is because a will transfers title and ownership of the decedent's assets to other persons. If there are no assets to transfer, there is no need to probate a document that has as its purpose the transfer of assets. However, sometimes there are tasks that require the services of an executor (e. g. filing a decedent's last income tax return if necessary) even though there are no assets. In that case, the will must be probated in order to have a duly authorized executor.
Does every will of a recently deceased person have to be probated?
Probate of a Will is a civil court action for the purpose of the orderly transfer of property from a deceased person's estate to his or her heirs. A Will is a formal document directing how the deceased person's property is to be distributed. If there is no property to distribute, there is no need to probate the Will even if there is one in existence.
How do you relinquish rights as an executor?
If I own an equal amt.of property as the executor of the estate and he is taking things what are my rights? He will not allow me into the house without him, but he is going in and removing items when I am not there?
What is a letter of administration?
A "letter of administration" is a document issued by the probate court to the person who is to administer an estate where there is no will. It proves that that person is officially the one to deal with concerning the estate. "Letters testamentary" is the name of the same type of document that is issued to an executor where there is a will.
How do you find out whether you have been left anything in a will?
Without actually asking them prior to their death, you can't, nor are they required to disclose that information. If you are asking about learning if their will is being probated, you could make inquiry at the Clerk of The Court office in the county in which they resided at the time of their death and ask if the deceased's probate hearing was on the docket.
Is Maryland a probate procedure state?
All states require probate. Probate is necessary to insure that debts are settled, taxes paid and that the property is distributed according to the law. Without it things start getting confused and hard to find. A good will will save a lot of trouble!
