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What happens if a person named in a life estate dies before the person making the life estate?
Wiki User
∙ 16y ago
When a life tenant dies the life estate is extinguished. A death certificate should be recorded in the land records.
Wiki User
∙ 16y ago
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Can a deceased person earn dividends on a bank account?
The estate can earn dividends on a bank account. The executor is responsible for making sure this happens and it gets included in the estate.
What happens if a deceased person did not have a will and the person who is next of kin dies before the estate is settled?
Generally, the probate of the first estate would need to be completed. If the next of kin who died is the only heir and was living when the first person died then that person's estate would need to be probated.
What happens if the sole beneficiary on an insurance policy dies before that person and the policy is never changed?
It goes to the estate
If a deceased person receives a letter for back taxes what should his or her relative do?
Pass it to the Executor of the estate. It has to be paid, if there is enough money in the estate, before making any bequests.
What happens when an estate administrator dies?
If the person left a Will the Will will identify who the administrator (executor) of the estate is to be - only this person can anministor the estate. If there is no Will then the state will appoint an administrator (there will be country specific laws relating to how this happens).
What happens to credit card debt when the cardholder dies but wasn't the one that used the card?
The estate is responsible for the debt. They will have to pay it off before closing the estate. They have the ability to try and get the money/goods back from the person that spent it.
Can a person convicted of a felony be appointed excutor of an estate?
It is possible for a person convicted of a felony to be appointed as an executor of an estate. However, the court may consider the nature of the felony conviction and other factors before making a decision. It is advisable to seek legal advice in such situations.
What happens to life estate in the mineral rights at that person's death?
The life estate expires when the life estate owner does and the mineral rights revert to the property owners in fee.
How can one refinance real estate?
A person can refinance real estate by making an appointment with a mortgage broker, or a loan expert from a bank. Before refinancing, take some things into consideration such as the total cost, the tax, monthly, and net savings.
If a person passes before receiving monies from a settlement due to cancer from asbestos and then received by survivors is it included in person estate?
It would become part of the estate.
What happens in a life estate when the son gets divorced in wi?
A life estate is a right in property. Rights in property don't go away. The name on the life estate is the person that retains the rights to the life estate.
What happens with a life estate when the property is sold while the property owner is still alive. Is it automatically revoked?
Nothing happens to the life estate. The life estate remains as long as the person who holds it is still living. Any sale is based on the existence of the life estate. However, if the life estate has not vested, as in the life estate was to be left in a will and they haven't died yet, then the life estate is void.
