Property is now in the name of the two daughters according to the county assesors office but the daughter I have contacted says it is in probate and she cannot sell until that is finished.
2006-12-26 04:37:27 · 6 answers · asked by James R 1 in Business & Finance ➔ Renting & Real Estate
You may purchase property that is in probate, it is done all the time. The only difference is all funds obtained from the sale of the real property must be accounted for and placed in the current probate so as to be divided by will, the court or other legal documents by the one that left the property.
You should check with the probate attorney about the sale.
Perhaps the daughter does not want to sell the property and/or the family has plans for the property after probate.
I don't think Missouri has different laws, but check with the probate attorney.
I hope this has been of some help to you , good luck>
"FIGHT ON"
2006-12-26 07:44:43 · answer #1 · answered by Skip 6 · 0⤊ 0⤋
It should be assessed as an estate, not by the two daughters as they do not legally own it. The county probably just has an error.
The estate CAN sell the house and put the $$ into the estate and then not get the money for it until after the probate-- but its more complicated.
2006-12-26 04:42:43 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Right. Just because the property is being assessed to the two daughters does not mean necessarily that they have the right to sell. If property is in probate, it has to go through the court system to allow the sale. Tell them you are very interested in purchasing and would like to be contacted as soon as available. Ask that they please call you before they list with a Realtor. Good Luck.
2006-12-26 04:40:54 · answer #3 · answered by Kathleen M 4 · 2⤊ 0⤋
In order to have the name of the two daughters on the county records the property would have had to have been owned jointly by them with the decedent or the property has been distributed out of probate.
Are you sure the daughter you spoke with knows the facts. Maybe you should talk with the executor.
Either way a sale should be possible either by the two daughters or by the executor.
2006-12-26 04:47:14 · answer #4 · answered by waggy_33 6 · 0⤊ 0⤋
If you buy a property prior to probate, then you will owe the probate taxes if the estate hasn't got the money. No lawyer would let the executors sell before the tax man is satisfied.
2006-12-26 04:46:09 · answer #5 · answered by Jack 6 · 0⤊ 0⤋
it surely relies upon on the probate statute. in case you have a private representative or an Executor, maximum statutes enable that person to sell the valuables for money and not utilizing a courtroom order. provided, however, its to no longer an insider of the valuables like an heir or somebody on the subject rely of the indoors maximum representative or Executor. verify the regulation of your jurisdiction and hire a 2d criminal expert in case you dont have faith the 1st.
2016-10-19 00:13:44 · answer #6 · answered by swett 4 · 0⤊ 0⤋