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What can you do if an irrevocable trust was left to 5 beneficiaries and one tries to sale the property without the knowledge of others?
The title to property in a trust is in the name of the trustee. Only the trustee has the authority to sell the trust property. A sale by one of the beneficiaries would be void since the beneficiaries do not have title to the property. If the property is real estate, a deed from one of the beneficiaries would not convey the property and would not be acceptable to the buyer. The deed must be executed by the trustee as set forth in the trust instrument.
What else can I help you with?
Can an executor sell estate property without obtaining approval from all beneficiaries?
No, an executor cannot sell estate property without obtaining approval from all beneficiaries.
What of these are types of beneficiaries in insurance policies?
In insurance policies, beneficiaries can be categorized into several types, including primary beneficiaries, who are the first in line to receive benefits upon the insured's death; contingent beneficiaries, who receive benefits if the primary beneficiaries are unavailable; and irrevocable beneficiaries, whose status cannot be changed without their consent. Additionally, there are revocable beneficiaries, who can be changed at the policyholder's discretion. Each type serves a specific purpose in the distribution of policy benefits.
Can the executor sell property without all beneficiaries approving in Virginia?
The executor of an estate always has the ability to sell property if allowed by the will. As long as the court agrees, the desires of the beneficiaries is secondary.
Can the executor in Wisconsin move property without all beneficiaries approving?
The exector's responsibility to the estate, not the beneficiaries. They are accountable to the court for executing the will and the laws.
Can the executor sell the estate without the knowledge of the beneficiaries in India?
no way not in a million year's.
Can an Administrator of a deceased estate rent out the estate property without consulting the beneficiaries?
Yes.
Does a estate property have to be sold?
No, as long as the debts are resolved without having to sell it, it can be transferred to the beneficiaries.
Can the executor sell the property without all beneficiaries approval in South Africa?
The beneficiaries don't get to make the determination. As long as the court is satisfied, the executor can do so.
Can a will be irrevocable?
Yes, a will can be irrevocable in certain contexts, particularly in relation to specific types of trusts, such as irrevocable trusts. Once established, an irrevocable trust cannot be altered or revoked by the grantor without the consent of the beneficiaries. However, standard wills are generally revocable, allowing individuals to change them at any time before death. It's important to consult legal guidance for specific situations and nuances related to estate planning.
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 a beneficiary stay at a property without paying rent to other beneficiaries?
They are not responsible to the other beneficiaries, they are responsible to the estate. It is up to the executor to make sure things are done fairly.
Can the executor sell property in Massachusetts without all beneficiaries approval?
Yes, the only approval necessary is the court's.
