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Whether a spouse must buy out the heirs of a deceased partner to inherit the estate depends on the laws of the jurisdiction and the specifics of the deceased's will or estate plan. In many cases, a surviving spouse has a legal right to a portion of the estate, which may include community property or elective share rights. However, if there are specific bequests to heirs or if the estate is contested, the situation may be more complex. Consulting with an estate attorney is advisable to understand the rights and obligations in such cases.
What else can I help you with?
Who is the optionee in real estate?
The optionee is the person who pays the optionor for the right to buy a certain piece of real estate which the optionor owns.
Which real estate company provides listings for cheap properties?
Real Estate Companies that provide listings for cheap properties include Real Estate NZ, Realtor, Real Estate, Zillow, Nolo, PR Web, Real Estate One, Rent Swap Buy, and First National.
What type of services are provided by Andrew Estate Agents?
Andrew Estate Agents are a real estate agency located in the United Kingdom. A person can buy a home, sell a home, offer a rental property, or rent a property through this agency.
If Sam wants to buy a building and property for his dry-cleaning business he would apply for a?
commercial real estate loan
Can an executor who is also a benficiary buy real property from an estate?
As long as it is properly approved by the probate court. There will have to be documentation of legitimate valuation and payment.
Can you get homeowners insurance if the owner of the house is deceased?
Yes, The Heirs can buy the policy or the Estate executor can buy a home insurance policy.
Can a life estate deed be rescended by heirs?
No. It can only be released by the life tenant in writing, voluntarily. If the life tenant doesn't want to relinquish the life estate, the heirs would need to buy them out or wait until they have died.
If 3 heirs are to receive one third equally of the estate can two heirs force the third to put his own money into repairs of a house in the estate?
No. They should buy out the third share and split costs and profits between 2.
Can an executor of an estate remove heirs from a property that is designated to be sold in the will if those heirs have paid the property taxes?
Yes, if the property was owned by the decedent and the Will provides that it be sold. In that case, the executor must carry out the provisions in the Will unless the provision is changed by a court order. It is assumed that there are other heirs besides the ones who paid the taxes on that property. The heirs who paid the taxes can file a claim against the estate for the amount they paid in taxes and they can offer to buy the property from the estate if they wish to keep it. They should speak with the attorney who is handling the estate.
What if the executor does not want to sell a house in the will?
There is no problem if the debts of the estate have been paid and the executor is the sole heir. However, if there are other heirs who want to sell the property and take their share of the proceeds the executor must buy out the interests of the other heirs. Otherwise, the heirs are entitled to a sale of the property and can file a petition for partition if the executor will not act.
Can an executor sell a vehicle to a family member if all heirs agree the vehicle is not in the Will?
Yes they can, but the there are 4 heirs, then at least 3 have to agree. The vehicle is just part of the Estate. Sometimes there are boats or other properties involved. Even homes can be sold with the agreement of all involved in the well as most people would rather have the money. If one of the Heirs (perhaps a son or daughter) really wants to buy and live in the home as long as they pay the market value of that home they can do so and that money goes into the Estate and is divided equally by the other Heirs. Marcy
How can you buy a car if the previous owner is dead?
Whoever was willed the person's belongings or appointed head of estate. If the car was specifically listed in the will, that person no owns the car. If there was no will, the spouse or partner will be in charge. If no spouse or partner, the eldest child. If no children, I have no idea. You will mostly likely purchase the car from a spouse, a child or the estate of the deceased. Or whoever was appointed owner of the vehicle in the will.
If lessee dies does estate have right to option to buy land from lessor?
If a lessee dies, the rights to the lease, including any option to buy the land, typically pass to their estate or heirs, depending on the terms of the lease agreement and applicable laws. The estate may have the right to exercise the option to buy, but this is contingent on the specific language of the lease and whether it allows for transfer upon the lessee's death. It’s advisable for the estate to consult with legal counsel to understand their rights and obligations in this situation.
Can a co-executor force the other co-executor to sell real estate?
Executors must be appointed by the court and then perform their duties under the supervision of the court. You need to appeal to the court for a ruling if the two of you have equal power and cannot agree. You must state all the pertinent facts in a motion and the reason the sale of the real estate would be in the best interest of the heirs. The court will issue an order that must be followed. On the other hand, if one of the heirs wants to keep the property they must buy out the interests of the other heirs.
Where can I buy I bonds for my spouse?
You can buy I bonds for your spouse online at the official TreasuryDirect website or through your bank or financial institution.
I am the Executor of my father's will which has been probated in the state of Ga Is there a time limit to when I need to sell the estate home I heard 3 years from the date my father passed away?
Have you checked with a lawyer and the probate judge? How does the will read? Are there other heirs? Normally there is no is no limit concerning the rules. You can have a real estate agent in the business of determining the price of a house set the value. You can buy out the other heirs and keep the house. How you and the other heirs settle the estate is up to you. The probate judge will demand you pay any taxes due.
How do you buy out a spouse's mortgage?
You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.You must pay off the mortgage and refinance. As part of the transaction your spouse must convey their interest in the real estate to you then you can refinance in your own name providing you qualify according to to the lenders requirements.
