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Is a heir to an estate responsible for paying off a mortgage after being named as the executor of the estate?
Once they have been appointed by the court the executor must pay the debts of the decedent before any assets can be distributed. Generally, if the mortgage isn't paid the lender will take possession of the property. If you want to keep the property you must arrange to pay off or refinance the mortgage.
If a house is not paid off and is left to an heir what are their responsibilities?
The mortgage is a debt against the estate which must be satisfied before the heir receives anything. If there is enough cash in the estate, the mortgage can be paid off and the heir will get the house. If not, the house will need to be sold, and the proceeds used to pay off the mortgage. If there are not enough assets in the estate to pay off the mortgage, there won't be anything left for the heir. It is the responsibility of the executor of the estate to see to all these transactions and to deliver the proceeds--what's left after settling the debts--to the heir.
How long does an executor of a trust have to disburse the money to an heir?
An executor is the term used for the person who has been appointed by a court to settle an estate. The person who can act for a trust is called the trustee. You should review the terms of the trust for provisions as to when the trust property must be distributed. If you think the trustee is not distributing the funds in a timely manner you should file a complaint with the court where the estate or trust was filed.
Does the solicitor distribute money to heir or exector?
The solicitor typically distributes money to the executor rather than directly to the heirs. The executor is responsible for managing the estate, including settling debts and distributing assets according to the will or intestacy laws. Once the executor receives the funds, they will then distribute the appropriate amounts to the heirs as outlined in the will.
If an heir of an estate dies who is entitled to that portion of the money?
If an heir of an estate dies who entitled to that portion of the money?
Can an estranged executor accuse an heir of damaging the deceased property?
The executor of an estate is responsible for the assets of the estate. That means they can bring a lawsuit on behalf of the estate. So, yes, they can accuse or even sue an heir for damaging property.
Can an executor charge rent to an heir that has lived in the property for 19 years and was the caregiver of the deceased?
The executor of the estate is responsible for the estate. Use of the estate property is an asset and they should pay rent.
Does an heir sibling to an estate have a right to enter estate after death of a parent if they are not the executor?
They do not have that right. The executor is responsible for the property and can allow, or not allow, access to the premises. The executor has to inventory the property of the estate and value it before distributions can be made.
Can an executor of an heir eviction a sibling from property that they live in of the deceased?
They do have that ability to have them removed. The property belongs to the estate and the executor is responsible for it. They can rent or sell the property.
Does an executor have the right to charge an Estate to have heir's inherited business property re-appraised after Estate set business property and equipment value in will as part of heir's enheritance?
Yes.Yes.Yes.Yes.
Who is executor of personal property when mother dies and is divorced?
Whomever files to be the executor. The estate can be opened by any heir or beneficiary, or even a debtor.
As executor of an estate do you have the right not to give money to an heir if you feel she was using the deceased just to become an heir?
An executor must follow the provisions in the will and for any property not distributed by the will must distribute it as intestate property according to the laws of intestacy. An executor does not have discretionary power of distribution unless that power was specifically granted in the will. An executor is personally liable for any acts that go against the will or violate the law.
Can executor ban heir from living at estate?
If you evict him properly after consulting with landlord/tenant eviction attorney. Are you going to then sell the property and split money with the heir?
Can executor of an estate legally rent real estate out named in a will when one heir will not give permission?
There is no reason that the executor cannot lease estate property. As long as they get a fair market price for the lease. They would then be able to use the money to pay debts and taxes as well as maintain the property.
Can a Surrogates Court judge rule to evict a disabled heir?
The executor is responsible for the estate and its assets. They can evict people living on the property.
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.
What can an heir to an estate do when your sibling is executor and has not distributed personal property or attempted to sell property as outlined in the will in Texas It has been 3 years?
Get a lawyer and sue to "Partition to sell" said property.
