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Im a beneficiary on a living trust. Do I pay for the survey of the house or does the estate pay?
Wiki User
∙ 10y ago
You need to review the provisions of the trust document.
You need to review the provisions of the trust document.
You need to review the provisions of the trust document.
You need to review the provisions of the trust document.
Wiki User
∙ 10y ago
Wiki User
∙ 10y agoYou need to review the provisions of the trust document.
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Can a beneficiary stop the sale of a house?
A court appointed executor has the power to sell the real estate if the power to sell real estate was granted in the will or by a license of the court. If the beneficiary is the sole beneficiary and the proceeds from the sale of the real estate are not needed to pay debts then the beneficiary may be able to obtain a ruling from the court against the selling of the real estate.
Can an executor deny a beneficiary the keys to property listed?
Yes, as long as the key controls some asset of the estate like furniture and furnishings in the decedent's house, until administration is completed. Executors and administrators have the obligation to take into their possession and protect all estate assets They are the only ones entitled to possession of estate assets during that administration. Therefore, an executor may withhold from a beneficiary a key to a house even if the will gives the house to that beneficiary, but only for a reasonable amount of time needed to administer the estate.
What happens after probate if a house is involved and a beneficiary wants to keep it?
The beneficiary can buy the property from the estate. That means the mortgage must be settled and the price must be market value.
Can an estate account be used to pay mortgage and or rent payments as well as utilities?
This depends on how the house is treated in the will. Generally, if the house is given to a beneficiary specifically or through the residuary clause, or if it goes to an heir by intestate succession, the house becomes the property of the beneficiary as of the date of death even though the beneficiary is not entitled to actual possession yet. In that case, mortgage, property taxes, insurance and utilities are the obligation of the beneficiary or heir and are not true estate expenses. Since the estate account contains estate monies that may be used only for estate expenses and since those are not estate expenses, the estate account may not be used for them. However; if the will states that the house is not to be given to anyone in particular but that it is to be sold by the estate and the proceeds given to the the beneficiary, then the carrying charges of the house are legitimate estate expenses and the estate account may be used. In the world of reality and practicality, the estate account is sometimes used, even though it may technically be wrong. Sometimes, beneficiaries agree to let the estate account pay for carrying charges, subject to the beneficiary reimbursing the estate later on. As far as rent payments go, obviously, the estate account will be used to pay for the rental obligations the decedent has, because this is a legitimate debt of the decedent. But, the estate account cannot pay for someone else to live there. The executor has an obligation to cancel the lease as soon as practicable so that no unnecessary rent payments accrue.
Can a trustee and beneficiary of a will buy a house from the estate?
Yes. As long as it is valued correctly and bought at the correct purchase price.
If a couple has been living in a common law relationship for over twenty years If the male dies does the female receive any percentage of his estate ex house or bank accounts?
If he dies intestate and there is no will naming her as the beneficiary, then NO.
If a person leaves a house to someone in a will can the beneficiary move in right away or have to wait for the probate court to approve the will?
Not only does the beneficiary have to wait for the probate of the will, but will most likely have to wait until the executor is satisfied that the house does not need to be sold to pay any debts of the estate. Until administration of an estate is complete, the executor has the right to possession of all estate property, including the house. If the executor wants to, he/she can let the beneficiary in the house. But even there, the person appointed as executor has no power to allow that until the will has been probated. This is because that person has no power to act as an executor until the will is probated.
Does executor of estate have right to keep house?
As the executor of an estate, you are responsible for executing the wishes outlined in the deceased person's will. If the will specifies that the house goes to a specific beneficiary, then you must follow those instructions. If there are no specific instructions, you may need to sell the house and distribute the proceeds according to the will or laws of the state.
If a house is in probate what happens if one of the heirs dies?
The gift to the beneficiary will become part of the beneficiary's estate. Generally, the interest of the deceased heir will pass to their own heirs according to the provisions in their will or to their heirs-at-law under the state laws of intestacy. Also, their estate will need to be probated. The attorney who is handling the original estate can explain what needs to be done in order to clear the title to the property.
How do you get someone with dementia to make a new will and remove you as executrix and sole beneficiary They have high credit card debt a mortgage exceeding the value of the house on the market?
Someone with dementia is not capable of making a new will. When the testator eventually dies, you can decline to be appointed executor. The estate will be responsible for the debts. If the debts are greater than the assets the estate will be declared insolvent and the beneficiary will get nothing. The bank will take possession of the real estate. You don't need to be "removed" as a sole beneficiary it creates no obligations on your part.
Who pays for real estate title work on an inherited house given by the executor of the father's estate?
Typically it would be expected that the estate would cover the minimal cost of transferring the title, particularly if the will specifies who is to get it. If the estate does not have sufficient assets to cover the cost, it would not be unreasonable to request the beneficiary to cover it.
Can a executor ask a beneficiary to move out of the house?
Yes, they can ask them to move out. The property belongs to the estate. The executor can sell the property or transfer its ownership as directed by the will or the court.
