my grandson is heir to an estate and includes a house. No will was left and he is the executor of the estate. The house probably will be ordered sold by the probate judge as there is another relative and the title to the house is in a family trust llc who handles the sale?
2006-11-26 04:10:14 · 4 answers · asked by JACQUELINE K 1 in Business & Finance ➔ Renting & Real Estate
If the house was titled under a TRUST, the trustee would be solely responsible for the sale of the property. When there is no will, there is no executor (someone pre-named to distribute the assets of the estate). Instead the court assigns one of the heirs to do it and is known as the Administrator. But the Administrator doesn't have the sole power to sell assets of the estate if there are more than one beneficiaries. If the deceased was the trustee and your grandson and another relative were named as beneficiaries than the court would likely assign the sale to a Realtor (if it isn't in tax default) but would require 100% agreement by the beneficiaries to sell the house.
2006-11-26 04:39:50 · answer #1 · answered by linkus86 7 · 0⤊ 0⤋
It is the responsibility of the executor to handle the disposition and sale of any assets, pay any obligations or bills and distribute the remaining assets. The court could also appoint a trustee to handle things. It would be best to have your grandson to consult with an estate lawyer.
2006-11-26 04:18:56 · answer #2 · answered by Flyby 6 · 0⤊ 1⤋
Usually the court which handled your case will either turn it over to the city or town's revenue department, or they will assign a real estate agent to handle the sale...hope that helped.
2006-11-26 04:14:01 · answer #3 · answered by narcsenforcelaw 1 · 0⤊ 0⤋
enable's think of roughly this one for a 2d: You reason somebody injury. A courtroom orders you to compensate that guy or woman for what you have finished. You do have sources to fulfill the judgment, yet not sufficient money or earnings. Why could you assume the guy to whom you led to injury to attend ? you probably did not wait to reason the damages. He shouldn't could desire to attend to be compensated. It does not count number how the domicile grew to become into offered. it extremely is easily functional which you would be able to liquidate your fixed sources to compensate the sufferer of your strikes, NOW. confident, a decide not in basic terms can yet could desire to order your sources be offered to fulfill a repayment order. in case you elect to avert the compelled sale of the domicile, improve a private loan against it and pay the damages.
2016-12-29 12:31:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋