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Do the proceeds of an estate sale involving another persons personal property have to be documented?
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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.
How long do siblings have to sort divide remove estate items from the estate house that was puchased by another sibling?
That would be up to the new owner of the property. You need to agree on a time frame for removal of personal property from the premises.
What is the best synonym for property?
Estate
Can a house in a life estate be sold?
Generally a life estate entitles the beneficiary to all property rights except the right to sell or otherwise transfer the fee in the property. It cannot be defeated by the conveyance of the property. If the house was sold the buyer would acquire it subject to the life estate. If the life estate holder desires to relinquish the life estate in order to sell the property then she/he may join in the deed of conveyance and the life estate will end.
Are personal belongings included in the estate?
Yes. A decedent's estate contains all the property they own at their time of death.
What is included in house contents in a will?
Unless specifically called out, the contents are personal property. They will be a part of the estate and go to the remainderman if they are not sold to settle debts.
What is a tax on real estate or personal property?
Property taxes are on real estate only. The IRS imposes charges on buildings, structures, land or houses that are permanently attached to the ground. These charges are called "real estate tax" or "property tax".
Is money personal tangible property?
Money is considered personal property and personal property is part of a person's estate.
What is listed in a decedent's estate when he already had an irrevocable trust?
Any property owned by the decedent in his individual capacity would be included in his estate. Any property that was transferred to a trust during life would not be included in the estate.
What the meaning of estate ownership?
A persons estate is all the property they own both real and personal property.
A tax on real estate or personal property?
Property tax
Why do people request an Accounting from an Estate Account?
They want to know what property was included in the estate and where it went.
Can widow's personal property be seized by heirs of her husband?
No. A widow's personal property is not part of her husband's estate.
Does estate value include real estate?
Yes. Estate values are being determine by license appraisers and they conduct the necessary evaluation and assessment of a certain estate property about it's value. Any estate property is included in real estate. Any land resource that is directed for valuable use is included in real estate, for sale or not.
Mortgage on personal property?
Generally, mortgages are for real estate. Liens or secured loans are used for personal property.
Is a 1990 Ford Mustang real property or personal property?
Personal, real is limited to real estate only
