0
What else can I help you with?
Can executor sell trust property in Florida law?
In Florida, an executor does not have the authority to sell trust property. This responsibility falls to the trustee, who must follow the terms of the trust and state laws when selling trust assets. It is important for the trustee to act in the best interest of the beneficiaries and seek legal advice if unsure of how to proceed.
Can a Co-Independent Executor act on legal documents without the other Executor?
Yes, except when selling real property. In selling real property all co- independent executors must execute the document.
Can a Executor lock a Beneficiary out of an estate?
Yes, they can lock them out. The executor must preserve the estate. That may include removing people from the property and selling it.
Can estate be settled if property hasn't sold?
It is possible to settle an estate without selling property. As long as the distribution is approved by the court, the property can be transferred to the beneficiaries.
Can an executor of an estate sign a title when selling a deceased persons automobile?
It will likely depend on the state in which the administration is pending. In Texas, for example, the executor can sell the car (and indeed sign the title) only if (i) the Will gives the executor a power of sale or (ii) the sale is necessary to pay debts of the decedent or expenses of administration. Otherwise, the only action the executor can take is to convey the car to the beneficiaries under the Will.
Can an executor of an estate sell the personal property that does not belong to the estate?
No, an executor cannot sell personal property that does not belong to the estate. The executor's authority is limited to managing and distributing assets that are part of the estate according to the deceased's will or state law. Selling property that is not owned by the estate could lead to legal consequences and potential liability for the executor. It is essential to properly identify and verify the ownership of assets before any sale.
Can the executor of an estate sign a quit claim deed to sign property over to an heir of the deceased?
No, not unless there is a POA or court order allowing him to do so. The executor has been appointed by the court and has letters of authorization for the handling of the estate's assets. In most cases, the executor will have to obtain court approval for sale of real property. To do so they will have to show the evaluation of the property and the sale price and show that it is a good deal for the estate. Once they have the court order, they are authorized to sign the appropriate transaction documents.
What can the executor do when a heir that lives in the deceased parents home starts selling the deceased's property?
Report the theft to the police. It is a crime to take and sell things that do not belong to you.
Do they have to sell everything at estate sale?
If they don't sell it, the goods still have to be disposed of. The Executor can elect to donate the remainder to a charity for a tax write off, or trash them. If the debts can be settled without selling all the items, what is left can be claimed by the beneficiaries.
Can an executor take cars out of state?
If the executor is in process of selling the car for the estate, I believe it would be proper for them to do that. The executor does not own it but it is their position to disperse the assets.
If your husband is the executor to his mother's estate do you have to sign dowry rights when he sells her condo?
No, the executor does not have an interest in the real property. He is not selling it, the estate is. If he inherits the property, then he has an interest in it and there could be dower rights involved. That is an issue that varies from state to state. It would be best to contact a local probate attorney, one who is familiar with laws in your state, to answer that question.
What can be done if the executor of an estate wants all the jewelry of deceased parents to distribute but the remaining beneficiaries don't feel the executor will distribute fairly?
If the will gives the jewelry to the children of the deceased, then they all own all of it equally, meaning no one person is entitled to or may choose any particular item. Some will give the executor the authority to use discretion in giving out specific items to individual beneficiaries. In that case the executor's decisions are final unless that discretion has been abused or not exercised for the equal benefit of all beneficiaries. If the beneficiaries believe that the executor will in the future distribute the items unfairly, there is nothing that can be done. Yet. A court will not take a case on a supposition that something wrong will be done unless there is proof that beneficiaries will suffer some irreparable harm if they have to wait until distribution is made. An example would be if the executor intends to send a family heirloom to someone out of the country and beyond the jurisdiction of the court to get it back. If te executor has made known a plan to distribute jewelry unfairly, beneficiaries can informally tell him they are against it and he should not make distribution. This usually works because an executor does not want to get entangled in litigation in which he might be hit with a damage award that he has to pay out of his own pocket or suffer a loss of his executor's compensation for not doing the job right. If distribution has been made, a lawsuit may be filed in the probate court alleging the unfair distribution and demanding the return of the items, the removal of the executor, the forfeiture of all compensation and payment of money damages by him/her personally. If no agreement can be reached on distribution of items (a common situation) the executor will propose an auction of the items and the proceeds of the auction instead of the jewelry will be distributed to the beneficiaries. This is a common problem because jewelry has both a monetary and a sentimental value. Plus, there may not be enough pieces to go around. And of course the big question usually is Who gets mom's diamond ring? In the end, a court will disregard sentimental value and distribute the jewelry in the only way it can. That is by selling it and giving out the money.
