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Who pays the fiducary when the administratrix defrauds the heirs?
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Who pays for a loan on a car if both husband and wife dies?
If the heirs at law want to keep the car, they must pay off the loan. Otherwise, the car would be repossessed by the lender.
What is the process to transfer title of a home to one of five heirs?
The estate deeds it to the heir. If the other heirs have rights in the property, they need to be paid for their share of the property, either by compensation from the estate (if the total estate is worth 5 times the value of the property) or the person getting the deed pays them off for their share of it.
Who pays the property taxes on heir property when one of the heirs are living at the property?
The decedent's estate must be probated in order for legal ownership to pass to the heirs. The legal owners are responsible for paying the taxes. If one heir is living on the premises they should all make up an agreement in writing as to who will pay the expenses.
After death who pays bills when both spouses are gone?
The estate is responsible for paying the debts of a decedent. The estate must be probated and the debts must be paid before any assets are distributed to the heirs.
Who pays your debts when you die?
Your estate, which consists of all of your property as well as any life insurance. If anything is left over from your estate, it is typically distributed among those you assign in your will, or your heirs, if any.
When someone dies and their heirs never probate the will and no one pays the taxes on the house for 6 yrs even though they lived in it and then they receive a letter from a lawyer what should they do?
They need to get their own lawyer, one who specializes in tax evasion.
Who pays back taxes when a person dies?
The person's estate is responsible for payment of back taxes. If there are any assets, the debts must be paid before any assets can be distributed to the heirs. If there are no assets the creditors should be notified of the death and they are out of luck.
In Texas a single person dies who has no assets or a will but will get a 1099 for 7000 dollars who pays the taxes?
His estate...just like any of his other debts...anything left will be passed to heirs according to the laws of that State (something like children, parents, siblings, etc)
Who pays the mortgage on deceased parent's home?
Unless there was some sort of mortgage insurance, the estate is responsible for paying the mortgage. If the mortgage isn't paid the lender will take possession by foreclosure. If the heirs want to keep the property they must keep paying the mortgage.
As an heir and executor of your fathers estate you must pay taxes on fees paid to you What is the tax rate?
Heirs do not pay tax. The decadent's estate pays any applicable tax. Fees paid to executors may be taxable. Check with state and Federal tax codes.
Who pays real estate taxes and other related expenses on estate property before distribution is made to the heirs?
The debts of the decedent must be paid by the estate before distribution can be made. If there isn't enough cash the property must be sold to satisfy creditors. To save the real estate heirs often get together and pay any outstanding debts in order to inherit clear title to the RE. YOu should discuss it with the attorney who is handling the estate.
Who pays bills after death if there is no spouse in Florida?
The estate is set up in Florida to be responsible for paying any bills. One of the primary reasons for setting up an estate is to liquidate any debt. If there are no heirs, the state will appoint an executor, the debts will be settled. If there is anything left over, the state will get it.
