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People also ask
Can an executor rent out a house 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 illegal to live in a house 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.
What happens to property during the probate process?
As probate can be a long process, an executor is normally named and confirmed by the court to be responsible for the property during the process. This includes the personal property, such as artwork, jewelry, stocks or bonds in addition to real property. Real property consists of land and the structures on the land.
Can I charge rent to my brothers in probate case?
No, that is not true; however, the brothers could request a charge for rent up to their share of the value of the property; they would generally make that claim in the probate proceeding. Don’t let them buffalo you. * This will flag comments for moderators to take action.