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Who gets the money from crops of a farm when the person having the life estate dies?
Wiki User
∙ 16y ago
You have to look at the arrangements that were made when the life estate was created. Usually, the life estate reverts to the original owner, or to whomever the original owner named as heir. There is no fixed answer. But what should be clear is that the life estate, whatever it included, ends at the death of the person who holds it.
Wiki User
∙ 16y ago
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Crops that are sold for money on world markets?
Crops that are sold for money on world markets are called cash crops.
Large farms that raise a single crop for money are called?
Hacienda (Spanish - Mexican word) - large estate or plantation A plantation is used to grow crops for selling
What is an estate?
Many people think an estate only has something to do with the death of a person. But your estate is the sum and total of everything you own at any given point in your life, from the clothes on your back, to the money in your pocket, to a car, a house, your investments, etc. During your lifetime, you can deal with any part of your estate yourself. But after the death of someone, that person's estate has to be dealt with according to the terms of the person's will or, if there is no will, by the law relating to the distribution of estates.
What taxes did members of third estate have to pay?
the members of the third estate had to pay money
What are the crops that are raised to be sold for money called?
Cash crops.
What are the atvantages of having a surplus of crops?
You can sell the surplus of crops for money.
If proceeds from an estate are paid out incorrectly does the person have to return the money?
The executor or administrator should contact the person to whom the money was paid in error and request they return the funds. This should be done through the lawyer who handled the estate and on that attorney's stationary. If the person having been so notified fails to return the money, the attorney who handled the estate should be able to address this situation and provide guidance in finding a resolution. Generally, estate fiduciaries who have been duly appointed by a court are required to be covered by a bond that guarantees the correct disposition of the estate.
How much money does a person in real estate make annually?
$30,000
Are siblings responsible for deceased sibling's debt?
No, not unless they have signed a joint mortgage (you borrowed money jointly) with the deceased sibling.A dead person's debts are settled out of the person's estate. If the estate does not have enough money to settle the debts then they "die" with the person.
If a pereson is promised money in a will but the person dies before putting the person in their will can the person still get some money?
Not if the money was meant to be an inheritance or gift to that person. If the deceased promised the money in payment for a debt, and there is a valid contract, the creditor can get the debt from the estate.
What does pay to the estate of mean?
It means that the money will be going to a trust or estate instead of an individual person. The estate can represent one or more individuals or just be an entity of itself.
If a person dies with no beneficiary listed on their insurance policy who does the money go to?
The money would go into their estate and would pass according to their will. If there is no will the money would pass as intestate property according to the laws of intestacy where the estate is probated.
Is money personal tangible property?
Money is considered personal property and personal property is part of a person's estate.
Can you spend money out of an estate if a notice to creditors of death was never published?
No, you have to follow the legal procedure before the estate can be settled. If a person uses the money form an estate without going through these procedures they are committing a crime and will be liable for the losses to creditors.
What happens to your money when you die in the UK?
If you die without having any relatives, and have not left a will - your estate goes to the treasury.
What if the person dies and you have a promissory note with them do you still have to pay?
Yes, their 'estate' is still owed the money.
What type of tax is paid on money property and other valuables by a person who has died?
estate tax
