I am a joint executor of a property that has been left to me and my sister in our mothers will.
Are we qualified to rent out this property on lease, without the need to transfer ownership.
If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.
Yes, you can be on a lease for a property without actually living there. Being on a lease means you are legally responsible for the terms of the lease, regardless of whether you reside at the property.
Yes, if he has died and you are not on the lease.
If the liens predate the lease then the property will likely be sold to satisfy the creditors.If the liens predate the lease then the property will likely be sold to satisfy the creditors.If the liens predate the lease then the property will likely be sold to satisfy the creditors.If the liens predate the lease then the property will likely be sold to satisfy the creditors.
It depends on the laws of the jurisdiction & the lease agreement. However, the general answer is "no".
Yes. As long as that is not prohibited in the lease.
That's sort of the reason for having an executor, so that they can settle the estate. And that may involve renting property or selling it. They are accountable to the court for their actions.
No. All the owners would need to consent to the lease by signing it. If all the owners of the property, or their duly appointed agent, didn't sign the lease it would not be a valid lease. All the undivided interest owners have the right to the use and possession of the whole property but one owner cannot encumber the whole property.A lease signed by only one of the owners of the property is not binding on the other owners. The tenant would not have their permission to lease their property.
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.
A leasehold premises is a property that is held by a lease. The occupants can remain on the property and in possession until the lease has expired.
Yes, it is possible for someone to be on a lease for a property but not actually live there. This person may be a co-signer or guarantor on the lease, or they may have a legal or financial interest in the property without residing there.
Leasing commercial property can be very difficult for many people. The best place to start your search for commercial property that you can lease is the website Craigslist.com.