Archive for the ‘probate rules’ Category
What happens when someone who has been left money from an estate via probate dies within 6 months?
My Great Uncle died on the 24th June 2006 aged 79. He was a single man who had never had children. He did not leave a will. The house he lived in belonged to his parents who did have a will and in it the house was left to all three of their children of whom my Grandfather and his sister were still alive. The estate went to probate and it came back that the estate would be split equally between my Grandfather and his sister after all bills/taxes were paid. The house went up for sale and was due to exchange contracts on the 22nd January. Unfortunately at the beginning of December my Grandfather died (5months and 20 days after his brother). He did leave a will leaving everything to my mother, his only child. We assumed that as probate had been done that my great uncles estate would still go to my Grandfathers estate. On the 22nd of January the date the contracts were due to be exchanged on the house the solicitors stopped it saying that they had to reapply for probate? Why?
Any residue should go into their estate.
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Can anyone explain how probate real estate investing works?
Hello
I have been reading about some real estate courses where they say that probate real estaet investing work sbecause the heirs are motivated to sell to pay of any property debts and will sell quickly for huge discount.
My question is why don't they just list it with an agent?
If it's such a discount someone will buy it?
Thanks
aston
While an executor or personal representative for an estate may need to sell an estate's assets, such as real estate to pay off the estate's debt, most already know an agent or 2.
To target these as potential home sellers is pretty much the equivilent of ambulance chasing. And as BrokerPro said, if it's so profitable & these homes are offered at such a discount, why isn't the guy snatching up these homes instead of selling you his course and giving away his "secrets".
Plus most people that are appointed as an executor are not stupid & actually, part of the probate & estate process requires that all the estates assets be valued. For real estate, this needs to be in writing, such as a CMA from a real estate agent. The entire estate must be valued & assets may have to be sold, or may not have to be sold.
My mother died with 1.5+ mill in real estate. We sold one commercial building & then a recreational lot, but are holding the other 3 properties as they are owned free & clear. Doesn't cost us but taxes, insurance and utilities. No mortgages.
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menal illness and legal wills?
My aunt died last july leaving all her worldly possessions to an well disliked brother in law and his wife. we filed a probate contest but the judge ruled on a motion to dismiss it as frivilous. My aunt has been mentally ill for 20 years she thougtht she was the sister in law to Bin Laden"???? All hospital records indicate she had full blown dementia e at the time she signed the will-just some 17 days before she died!!!! Any thoughts on how we can get this thief who stole both families inheritance would be appreciate!!!
Get a lawyer fast and appeal the Surrogate’s decision within 30 days. Get all of your information together and witnesses when you return to court. Lack of mental capacity is not a frivolous ground to challenge the formation of a will.
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Siblings are "kicking" us out of our own home?
My father in law passed two years ago and my husband, his oldest child, moved our family to his home and became probate rep. Now that probate has closed, his three younger siblings have decided they do not want us living in the home and have given us one month to leave. The estate has been put in all their names, but they state that majority rules and we must leave if they wish us to. My husband feels horribly betrayed and doesnt wish to fight this. Part of me feels the same, but I cant help but feel that if he owns 1/4 of the property, they cannot kick us out any more than I could kick them out.
Please, no bashing or getting even answers, we are in a very bad situation, have no money for moving and no where to go. We have no money to consult a lawyer (unfortunately we live in a very rurally depressed area where free consultations are not given) and need serious legal advice.
Thanx
All the siblings agreed for my husband to be probate rep and that we should live there. We are not trying to "hog" the house. Two of them live over a hundred miles a way and the other 1800. We have been paying the mortgage on the home for the past 2.5 years and all expenses that come with owning a house and 40 acres. They have not even helped w/property taxes. That also came out of our pocket. We do not owe them rent, it is only that we were paying the mtg that the co hasnt taken it.
As they say, Possession is nine tenths of the law, not majority rules. Basically they have told you to get out, but they have nothing to back that request up right? If they want you out so that they can sell the house and split the money that is fine, let them know that you will make sure that the house is presentable and available to show, and once the sale goes through you will move. Until that time let them know that you are not leaving.
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homeowner dies, how to evict people living in her house?
OK, kinda’ complicated, but will try to make it as short as possible. My mother died over a year ago and left the house to the four children (I am one of them). One of the siblings (my sister) had been living there in an in-law apt. for over 12 years, was supposed to have paid rent, but never did.
We went to probate court over a month ago, the Judge ruled that the house was to be sold and he set the minimum price. After almost a year of promising to fill out the paperwork to buy the other three siblings out so she can own the house outright, she still has done nothing. My brother took her to a mortgage lender who approved her verbally, but she still refuses to commit one way or another. She still claims she "doesn’t know", meanwhile, the other 3 siblings need the money from the sale of the house, but we can’t sell the house because she won’t make a decision to buy and stay or leave and sell.
Anybody have any idea what my options are.
Thank You in advance.
Her decision is irrelevant. The court has ordered the sale of the house. Put it on the market at or above the Court prescribed minumum and be done with it.
Maybe you want your sister to buy the house so the house stays in the family. Even if so, your sister’s intransigence on this issue, is an answer all by itself.
Whomever is charged with complying with the Probate Court - just put the house on the market - tell sister AFTER you have done so, and let her compete with everybody else for the house.
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Did you inherit an unwanted property?Relitive passed two weeks ago in Nevada, will his estate go through probate?
his assets are his condo(last appraised at about 200K) and about 3000 in the bank. will his estate go through probate? about how long is this process?
I’m sure his will will be probated and it really depends on the executor of the estate and how promptly all the papers are filed.
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If you have a quit claim deed, do you still have to probate an estate?
When my father-in-law died, the stepmother-in-law came up with a quit claim deed claiming that everything was now hers, and she did not have to probate his estate. Is this true? We are in Texas
In Michigan you do nor have to go to probate if you have a quick claim deed,if I were you I would seek a lawyer right away,when my father-in-law died and left house to his wife,she became mentally ill and we had house quick claimed to my husband,to protect mother-in-law from outside long distant relatives,he was the only child left,I believe your wife has some rights
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How do I find a listing of Probate Estate properties in Illinois?
CHECK WITH YOUR LOCAL PUBLIC LIBRARY, THE HAVE MANY BOOKS ON THAT TOPIC AND SOME OF THE BOOKS HAVE CD'S INCLUDED IN THEM THAT YOU CAN DOWNLOAD INTO YOUR CONPUTER.
THEY ARE A WONDERFUL SOURCE FOR INFORMATION, AND IT IS FREE TOO!!
THESE DAYS PEOPLE DON'T THINK OF THE LIBRARY ANYMORE BECAUSE THEY THINK EVERYTHING IS ON THE INTENET,…NOT TRUE.
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