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What tax is considered tough on farmers and small business persons who want their heirs to continue their work?
The estate tax (often referred to as the "death tax"), which removes substantial capital from families and small businesses, and may require them to sell out or close.
Which of these taxes did lawmakers did lawmakers agree was too tough on farmers and small business person who want their heirs to continue their work?
They agreed that estate taxes were to tough if farmers and small business persons wanted their heirs to continue their work.
Which of these taxes did lawmakers agree was too much tough on farmers and small business persons who want their heirs to continue their work?
They agreed that estate taxes were to tough if farmers and small business persons wanted their heirs to continue their work.
Where do free enterprise systems sell goods?
In a free enterprise system, enterprises sell goods wherever they want.
What happens when more people holding specific currency want to sell it than there are others who want to buy it?
The currency weakens
What if the executor does not want to sell a house in the will?
There is no problem if the debts of the estate have been paid and the executor is the sole heir. However, if there are other heirs who want to sell the property and take their share of the proceeds the executor must buy out the interests of the other heirs. Otherwise, the heirs are entitled to a sale of the property and can file a petition for partition if the executor will not act.
Do other heirs need to sign if you sell the property?
The decedent's estate must be probated in order for the heirs to have legal title to the real estate. All the heirs must sign the deed. If you want to sell the inherited real property the attorney who handles the estate can advise you.
Does the bank sell a reverse mortgage home on owners death?
Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.
Can one heir force three heirs to sell property if they want to keep it?
In most cases, one heir cannot force three other heirs to sell a property if they want to keep it, unless specified in a legal document or through a court order. All heirs typically have equal rights to the property and must come to an agreement on its disposition. If an agreement cannot be reached, a mediator or legal action may be needed to resolve the issue.
If a father dies and leaves a home in the state of Virginia to four daughters and one does not want to sell property what should they do?
She must buy out the other heirs if she wants to keep the property. If she can't or won't then the other heirs can petition the court to partition the land. The court will appoint a commissioner who will make all the arrangements to sell the property. The commissioner will need to be paid and the real estate agent who handles the marketing and sale. There will also be court costs and other legal costs. The net proceeds, after all the costs have been deducted, will be divided equally among the four heirs.
What happens when inherited property is sold for taxes?
If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.
Can the administrator of an estate sell property without the heirs permission?
The Administrator doesn't need the heirs' permission per se. Generally, an Administrator needs to petition the court for a license to sell the real estate. The heirs will be given notice of the petition to sell and will have the opportunity to object. If all the heirs want to keep the real estate the Administrator has no need to sell unless there are debts to pay. The debts must be paid before any assets can be distributed to the heirs. You can add more details on the discussion page.
If the owner on the summons for foreclosure of tax lien is deceased will the heirs have to pay the delinquent municipal taxes?
If the heirs want to keep the real estate they must probate the estate and pay the taxes. If the taxes aren't paid the town will take possession of the property and sell it.
Can credit card companies force heirs to sell real estate after a death?
If the credit card company has filed a claim against the estate the debt must be paid before any assets can be distributed to the heirs. In any estate the debts must be paid first. The heirs get any assets that are left after the payment of debts. If the estate doesn't pay the bill the creditor can force the sale of the real estate to collect the debt. If the property is the only asset and the heirs want to keep it then the heirs must pay the credit card bill.
How is property title transferred after probate is closed?
If the probate process has been completed and title is in the heirs they can execute a deed to a straw and then the straw can convey the property back to the heirs by deed and the heirs will become the record owners of the property. However, that process isn't necessary except in cases where the heirs desire to have a deed in their own names. If the heirs want to sell to a third party they can execute a deed of their interest and cite the probate as their source of title. You should consult with the attorney who handled the estate who can review your situation and your needs and explain your options.
If four siblings inherit a home and three want to share it do they have to buy out the fourth?
Yes, they would have to buy the 4th out. Otherwise, the estate can sell the property and divide the proceeds four ways. They will also have to pay a fair market price as determined by the estate.
If there are four heirs to a large piece of property can three of them force a sale of the property and if so what happens to the mineral rights belonging to one of the heirs?
By Canadian Law generally the majority of heirs that agree over-rides the others as far as the selling of any property, but, the others who do not want to sell can seek legal counsel and you have a face-off in court. This can take many years to settle so normally most people come to an amicable agreement rather than wait for any monies due them. * In the US the owners wishing to sell the property would need to file suit against the reluctant owner to have the property partitioned so that each person would be allocated their share and would then be able to sell it. In some states the court can order a forced sale of the property regardless of whether all owners are agreeable or not.
