0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
In some states a person who receives property when someone dies must pay an?
...inheritance tax.
What is a devisee?
A devisee is a person who receives a gift of real property by a Will.A devisee is a person who receives a gift of real property by a Will.A devisee is a person who receives a gift of real property by a Will.A devisee is a person who receives a gift of real property by a Will.
What is the tax on property transfer when a person dies called?
Estate tax is levied when a person dies
Who owns a deceased persons property who has no heir?
When a person with no next-of-kin dies owning property, their property 'escheats' to the state.
Does property go to et al if named person dies?
Normally, yes, when there is no will.
If a person is separated and dies before he gets divorced with a will does the wife have a right to his property?
Yes
If a person dies intestate in Pennsylvania and owns property in Virginia which states laws govern?
If a person dies intestate (without a will) in Pennsylvania but owns property in Virginia, the laws of Virginia will govern the distribution of the property. Each state has its own laws regarding intestate succession, which determine how assets are distributed when there is no will. In this case, Virginia's laws will determine who inherits the property and in what proportions.
Does the person who receives the life estate have to maintain the house and property named in life estate?
Generally, yes.
When must insurable interest exist in a property policy?
Insurable interest is when a person receives a financial or other type of benefit from the continuous existence of the object that is insured. When dealing with property a person is entitled to insurable interest of the property up to the value of the property but not over the value of the property.
When must an insurable interest exist in a property policy?
Insurable interest is when a person receives a financial or other type of benefit from the continuous existence of the object that is insured. When dealing with property a person is entitled to insurable interest of the property up to the value of the property but not over the value of the property.
What can happen to a person who receives a property through right of survivorship and can't afford to pay the mortgage?
If the person is unable to pay, the bank can foreclose.
What are the laws for an estate?
In the US when a person dies with no living next of kin their property escheats to the state.
