Best answer
An executor does have the power to rent a property in probate. It is more desirable to have a tenant in the property during the probate process than leave the property idle. The rents from a tenant can pay the property taxes and monthly mortgage payment. Rents can also cover the maintenance and repairs of the property.
People also ask
Can an executor rent a property in probate?
Renting Property An executor does have the power to rent a property in probate. It is more desirable to have a tenant in the property during the probate process than leave the property idle. The rents from a tenant can pay the property taxes and monthly mortgage payment.
Is it possible to rent out a house while waiting for probate?
I understand that I cannot sell his house until probate is granted but is it possible to rent it out while waiting for probate ? If so, would the rental then form part of his estate? Yes, you can rent it out (assuming any other executors agree). The rental income will form part of the estate.
Is it illegal to occupy a property in probate?
No, there is nothing illegal about occupying a property in probate but an appropriate agreement for rental should be made unless the you are inheriting the entire house. * This will flag comments for moderators to take action.
Can a house avoid probate?
A house can avoid probate if it automatically passed on to survivors via a living trust, joint ownership, community property law, or transfer-on-death deed.