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Can a beneficiary stop the sale of a house?
A court appointed executor has the power to sell the real estate if the power to sell real estate was granted in the will or by a license of the court. If the beneficiary is the sole beneficiary and the proceeds from the sale of the real estate are not needed to pay debts then the beneficiary may be able to obtain a ruling from the court against the selling of the real estate.
In North Carolina can someone besides the executor of the will put the land up for sell as long as they are a beneficiary?
Real property can only be sold by the executor of the estate. A beneficiary is not allowed to sell the property.
If property is left to a beneficiary in fee simple can the executor sell it?
If property is left to a beneficiary in fee simple, the executor generally cannot sell it without the beneficiary's consent. A fee simple interest means the beneficiary has full ownership rights, including the right to occupy or sell the property. The executor's role is to manage the estate and distribute assets according to the will, but they do not have the authority to sell property that has already been transferred in fee simple to a beneficiary. However, if the will allows for it or if the estate needs to settle debts, the executor may seek court approval to sell the property.
Can an estate be named as a beneficiary in a will or trust?
Yes, an estate can be named as a beneficiary in a will or trust.
Is an executor of a will able to handle the estate of a beificiary?
No. If the beneficiary dies their estate must be probated in a separate action.No. If the beneficiary dies their estate must be probated in a separate action.No. If the beneficiary dies their estate must be probated in a separate action.No. If the beneficiary dies their estate must be probated in a separate action.
Does an estate have to sell real property to meet a beneficiary's claim of assets?
If there are specific items given out, the executor must give it to those individuals. A beneficiary doesn't normally have a claim against the estate. All debts have to be resolved before distribution.
What happens is a beneficiary die's but there are other beneificiaries before an estate is settled?
The beneficiary's share goes into their own estate.
How does a beneficiary know if he has to add this money to an estate?
The only reason a beneficiary would add money to an estate would be if they owed money to the estate at the death of the deceased.
What type of tax is levied on the beneficiary share of an estate?
The type of tax that is levied on the beneficiary share of an estate is known as inheritance tax. This will be assessed based on the legacies the beneficiary receives.
Can an estate be a contingent beneficiary?
Yes.
Can a beneficiary be an administrator of an estate?
Yes.
Is money received as a beneficiary from an estate taxable?
Money received as a beneficiary from an estate is not considered taxable. Money that is left on behalf of an estate is an inheritance and is considered to be tax free.
