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How is the probate estate maintained?
Property in probate is maintained by other assets in the estate or by the heirs if they want to keep the property when there are no other assets that can be used for maintenance.Property in probate is maintained by other assets in the estate or by the heirs if they want to keep the property when there are no other assets that can be used for maintenance.Property in probate is maintained by other assets in the estate or by the heirs if they want to keep the property when there are no other assets that can be used for maintenance.Property in probate is maintained by other assets in the estate or by the heirs if they want to keep the property when there are no other assets that can be used for maintenance.
Who controlled the property And other assets of Román women?
who controled the property and other assets of roman woman
Can one owner lease out property that is jointly owned?
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.
Can foreclosure on an investment property result in seizure of other personal real property or other assets?
Foreclosure on an investment property typically results in the loss of that specific property, but it generally does not directly result in the seizure of other personal real property or assets. However, if the borrower has personally guaranteed the loan or if there are other financial obligations tied to the investment property, creditors may pursue other assets to recover their losses. Additionally, if the foreclosure leads to a deficiency judgment due to an unpaid mortgage balance, this could potentially impact the borrower's other assets. Always consult a legal expert for specific cases.
What is the difference between real property assets and personal property assets in cost segregation?
Property is that which an individual owns. Real property is real estate, land, investment/rental properties, homes, etc. Personal property is jewelry, art, automobiles, valuable collections, cash and financial assets other than real property.
Is buildings an liability or assets?
Buildings are generally considered assets because they represent a tangible investment that can appreciate in value over time and generate income through rental or lease agreements. However, they can also be viewed as liabilities if the costs of maintenance, property taxes, and other expenses exceed their income-generating potential. Ultimately, the classification depends on the financial context and overall management of the property.
If Dad had no assets Do you need probate?
Not if there are no assets at all. A will is simply a document that transfers a persons property to other persons after death. If there are no assets to be transferred, then there is nothing for the will to do.
Will a deed with right of survivorship eliminate probate?
Yes. If the owner owns no other property at the time of death and has no property or assets that will come into the estate after death such as life insurance, tax refunds, awards from lawsuits, etc.Yes. If the owner owns no other property at the time of death and has no property or assets that will come into the estate after death such as life insurance, tax refunds, awards from lawsuits, etc.Yes. If the owner owns no other property at the time of death and has no property or assets that will come into the estate after death such as life insurance, tax refunds, awards from lawsuits, etc.Yes. If the owner owns no other property at the time of death and has no property or assets that will come into the estate after death such as life insurance, tax refunds, awards from lawsuits, etc.
Is a lease binding if you do not know who owns property?
The owner of property that includes rental units may appoint an agent to manage the property and will give that agent certain legal powers to act on behalf of the fee owner. Sometimes there is a recorded instrument that sets forth the name of the management company. If a management company has been properly appointed a lease executed by it would be binding on the lessee even if not signed by the actual property owner. On the other hand, if the lease was executed by a person other than the owner who does not have the legal authority to execute a lease on behalf of the property owner then the lease may be invalid. You could check in the city assessor's records and in the land records for the owner of the property. You should seek the advice of an attorney in your area who could review the lease for validity.
What is a mg lease?
A mg lease, or management lease, is an agreement where a property owner (lessor) leases their property to a management company (lessee) that is responsible for operating and managing the property. This arrangement allows the owner to benefit from the management expertise of the lessee while retaining ownership of the asset. The management company typically pays the owner a fixed rent or a percentage of the revenue generated from the property. This type of lease is common in commercial real estate, hotels, and other operational properties.
What are the risks of cosigning a lease?
The risk of cosigning on a lease is that the cosigner is responsible for the rent for the leased property even if the other signers do not pay the rent. The landlord can go after one or all of the cosigners on a lease to get rent paid if the lease is not paid for the full term.
What type of lease when tenant pays utilities?
In a gross lease, the landlord typically covers all property expenses, including utilities. In contrast, a net lease, such as a single net lease, allows the tenant to pay for some or all utilities separately, along with other costs like property taxes and insurance. Therefore, if the tenant is responsible for paying utilities, it is often indicative of a net lease arrangement.
