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For example, in California, if the executor can sell the property for at least 90 percent of its appraised value, they may have the authority to move forward with the sale. So know your state’s ...
Under common law, this type of deed technically created a use in the buyer who then gets the title. [3] Under the statute of uses, modern real property law disregards this subtle distinction. [citation needed] A bargain and sale deed is especially used by local governments, fiduciaries such as executors, and in foreclosure sales by sheriffs and ...
On the other hand, when a TIC property is partitioned, courts may be at liberty to consider unequal contributions to purchase price and adjust the tenants' distributions accordingly. In either partition situation, tenants may request credits for unequal contributions to expenses incurred after taking deed to the property. Such credits may cover ...
For example: When a person having legal title to property dies, heirs at law or beneficiaries per the last will, automatically receive an equitable interest in the property. When an executor or administrator qualifies, that person acquires the legal title, subject to divestment when the estate has been administered so as to allow for the lawful ...
Being the executor or administrator of the deceased’s estate, but only in states that require executors or administrators to pay off debt from property jointly owned by the surviving and ...
Section 2032 provides an alternate method of determining the property's new basis. If the property is not disposed of within six months of the decedent's death, the executor may elect to use the property's fair market value six months after the date of death but only if such an election results in a decrease in the value of the gross estate. [2]
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