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What else can I help you with?
If you are the executor and heir to an estate with no will can you take a loan against the said estate property?
If you are the executor and heir to an estate with no will, you can you take a loan against the said estate property, but not right away. Lenders typically will not give you a loan on a piece of property until it is in your name.
Can the executor of an estate pay someone to maintain your property and someone to dispose of your personal property?
Certainly! One of the primary responsibilities of the executor is to maintain the value of the property. They also must inventory and properly sell or bequeath the items in it. The estate, or its beneficiary should reimburse any valid debtors before giving any of the assets away. Consult a probate attorney in your jurisdiction for help.
When should an executor of an estate know they are appointed executor?
When the testator has passed away. That is when their duties begin. The first thing they have to do is file with the probate court to be appointed as executor.
How can one become the executor of an estate after someone passes away?
To become the executor of an estate after someone passes away, you typically need to be named as such in the deceased person's will. If you are not named in the will, you may need to petition the court to be appointed as the executor. This process usually involves submitting the necessary legal documents and proving that you are capable of handling the responsibilities of managing the estate.
Does the executor of the will have the right to sell the estate?
Once you have been appointed executor by the court you can sell the property under certain circumstances. Assuming the real estate was not specifically devised in the will, generally, if you were given authority to sell the real estate in the will you may sell without license of the court. If the authority was not granted in the will then you will need to apply for a license to sell the real estate.
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.
Can a executor of an estate sell or give away items if the person is still alive and of sound mind?
Of course not. No one is an executor until they have been appointed by the probate court. No one is appointed by the probate court until the testator has died. Any person who gives away the property of another person should be reported to the police and prosecuted.I hope you understand that there is no such thing as an executor of an estate of a living person.
How do you eliminate the debt after death to a spouse?
Get an estate opened. The executor of the estate will deal with the debts and assets. If the debts are joint responsibility, they won't go away.
How do you become executor of your mothers estate after she passed away?
Apply to the probate court using the correct forms. They will issue a letter of authority allowing you to represent the estate.
What happens when your mom passes away and her property is in a life estate?
The life estate goes to the remainderman.
Can a person sell a house without the executor's permission?
The person who owns a house can sell it whenever they wish. The executor only controls property of someone who has passed away.
Does all heirs have to sign to remove executor of estate after trustee passed away?
Only a court can remove an executor and appoint a successor executor. A trust document should provide for the appointment of a successor trustee. If it doesn't the court will appoint one if asked to do so. Those two offices and issues are separate.
