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The value of the estate, which includes the debts owed to it as well as the debts the estate owes, is divided up into three parts. The amount those that owe the estate money receive is off-set against the debt. If there are more debts owed by the estate then it is worth, those owing money will have to pay it to the estate.
What else can I help you with?
Can an executor hide money from her mother's will that is supposed to be divided three ways?
Once a probate is filed it becomes a public record allowing you to monitor every action taken by the executor. She is obligated to file an inventory with the court. You can review the inventory she filed and see if you think it's complete. If she hasn't filed one then complain to the court or to the attorney who is handling the estate. Once the probate process has been completed the executor is required to file an account with the court that shows the disposition of all the property that was listed in the inventory. AT that time the heirs will be required to sign a release and assent to the account. Stealing from an estate is a very serious violation of the law and will generally show up at some time during the probate process.
What are the three functions of money?
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account.
What are the three adjustments that have to be made in going from annual to semi annual bond analysis?
There are three adjustments that have to be made in going from annual to semi-annual bond analysis. These three adjustments are to divide the annual interest rate by two, multiply the number of years by two, and divide the annual yield to maturity by two.
Is money singular or or plural?
The noun money is singular, there are two forms accepted as plural, moneys and monies.The singular form is also an uncountable noun that is counted in 'units of' or 'types of' such as 'three forms of money' or 'three stacks of money'.
What is triple net in real estate?
The triple net in real estate is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "Nets") on the property in addition to any normal fees that are expected under the agreement, rent, utilities etc.
If there are four heirs and three want to sell can they?
All heirs have to be in agreement to sell, if their is not someone designated to the estate.
What were the names of the three girls who were the heirs to the estate of the deceased man?
as nieces
Did Latoya Jackson get money from Michael Jackson's estate?
No, the only ones who get money from the estate are Michael's mother and his three children.
How long does it take to divide the estate among heirs?
This depends on the estate, the jurisdiction (what state) and the executor. In my mother's estate, there were three releases sent to the heirs. The final release had to wait for the "Tax audit release" proving that the Canadian feds weren't going to audit her taxes. That took sixteen months. But the executor cut the first check at just under two weeks. Officially nothing should be distributed until the tax people are finished. The executor might have to make up the lost funds to the government.
If five siblings are left 40 percent of estate and three siblings are deceased who gets the balance when there is no mention of the three deceased heirs or per capita?
If the three deceased heirs aren't mentioned then the 40 percent will be distributed to the two remaining siblings and the family of the three deceased. It is likely that the three deceased siblings had a will that will ultimately determine what needs to be done with their portion.
Heirs cannot agree one will not let other two have key to house or even let them in the house what are the other two's rights?
An estate that passes ownership to real estate must be probated in order for legal title to pass to the heirs. In the case of inherited real property, all the co-owners have the right to the use and possession of the whole property unless a different arrangement is set forth in the will.In your case, the estate must be probated. You must consult with an attorney who specializes in probate law in your jurisdiction who can file a probate so title will be legally vested in the heirs. Once the probate has been filed the three heirs will share legal ownership equally. If one heir desires to keep the others out, she must purchase their interest in the property. Otherwise all the co-owners have the right to the use and possession of the property and must be allowed entry.
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.
In Pennyslvania can one heir mortgage heir property without other heirs agreement?
A single heir can only mortgage their interest in the property. For example, an heir with three other heirs only owns a 1/4 interest. Most lenders will not loan money on a proportionate interest in real property.
What is twenty three divide ten?
twenty three divide ten is two point three
What was the result of the treaty of verdun in 843?
charlemagne's heirs split his empire into three regions
How do you use a factor tree to find the prime factorization of 81?
81 Divide by three. 27,3 Divide by three. 9,3,3 Divide by three. 3,3,3,3 Stop.
Your mother granted a life estate to herself The 3 kids own the farm One sister has passed away your mother is still living Can she legally reverse her life estate give her remaining 2 kids the assets?
You didn't say how the life estate was granted. If it is in a will it won't apply until the mother dies and the gift can be changed at any point up to that time. But you did say "3 kids own the farm" which could imply that there is a deed to the three kids with a life estate to the mother. If it is in a deed, then it can't be "revoked" without permission of the owners - the three kids. If one of the sisters has died, then that portion goes to the heirs of that sister, again encumbered with the life estate of the mother.
