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How long does an executor of estate have to sell home in the will to be split between heirs?
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If 3 heirs are to receive one third equally of the estate can two heirs force the third to put his own money into repairs of a house in the estate?
No. They should buy out the third share and split costs and profits between 2.
How much is a real estate brokers and agents commission and how is it split?
RE commission is between 4% and 6% usually. The amount ( say 6%) is what is "split" between the listing broker and the agent who brings the deal to the broker.
Are the real estate commissions split between the buyer and seller?
Normally the real estate agent's commission is paid by the Seller. In over 20 years of experience I have never heard of the buyer being expected to pay real estate commissions.
How is the commission split between the listing real estate agent and purchasers real estate agent?
There is a huge variation in this. In some areas the listing commission and the sales commission are split 50-50. In other areas the listing company gets 60% of the commission due to higher expenses. After the real estate companies take their shares then they pay their agents a percentage of this. Some companies start new agents at a 50-50 split and they gradually work up to 60,70, 80, or 90 %. Other companies charge their agents a monthly desk fee and pay out 95% of the commission, keeping 5% for the franchise fee. (Like Remax). There are other business models out there as well.
How much is real estate brokers commission?
Commission rates are not fixed and are negotiable but generally range from 5% to 7% of the sales price. The commission is usually split between the buyer's agent and the listing agent, unless only one agent is involved. Real estate commissions and transactions vary from state to state, broker to broker and even locations within states can be different. Obtain the information in the local market to be precise.
Who signs for the sale of a house to be split between the 3 heirs when one of the heirs is the executor only the executor or all 3 heirs?
The executor has the Letter of Authority to conduct the sale. No one else has to be involved.
Is the executor of a will responsible to pay city and county taxes due on the property or should costs be split between heirs?
One of the duties of the executor is to pay the debts of the decedent. If those charges have been billed to the decedent the executor should pay them. If there is not enough cash in the estate to pay the heirs should divide the cost and pay if they wish to keep the property.One of the duties of the executor is to pay the debts of the decedent. If those charges have been billed to the decedent the executor should pay them. If there is not enough cash in the estate to pay the heirs should divide the cost and pay if they wish to keep the property.One of the duties of the executor is to pay the debts of the decedent. If those charges have been billed to the decedent the executor should pay them. If there is not enough cash in the estate to pay the heirs should divide the cost and pay if they wish to keep the property.One of the duties of the executor is to pay the debts of the decedent. If those charges have been billed to the decedent the executor should pay them. If there is not enough cash in the estate to pay the heirs should divide the cost and pay if they wish to keep the property.
When the deceased only has a house value 145000 there are NO other assets her son is the executor and the house is to be split half and half with his daughter does he need to obtain probate?
Yes. The estate must be probated in order for title to the real estate to pass to the heirs legally.
If 3 heirs are to receive one third equally of the estate can two heirs force the third to put his own money into repairs of a house in the estate?
No. They should buy out the third share and split costs and profits between 2.
Can a executor sell the home in the will if it is split with another family member?
The executor of the will has the ability to sell property of the estate. They may have to in order to pay off the debts of the deceased. The value of the property after the debts are cleared would be split between the family members.
Can land be surveyed without all heirs agreeing?
The actual act of surveying a piece of property can be conducted at anytime. It sounds as if the DIVISION of the property among the heirs is going to be in dispute. It sounds as if either the Executor of the Estate OR the Probate Court may have ordered the survey in order to determine an equitable split of the property among the named heirs.
Can an executor live in estate property and over ride wishes of other executor who wants to sell?
When heirs have a disagreement over whether to sell the property either has the right to seek partition in the probate court. The court will appoint a commissioner and the property will be sold with the net proceeds split between the heirs equally. The associated costs are high. Otherwise, if one wants to keep the property they must buy the other owner's interest. They should have the property evaluated and make a fair offer.
In the state of NJ if there are 5 executors do they split the executor fee or is each paid a separate fee?
In New Jersey, 1% of the estate is added to the usual percentages for one executor for each additional executor. They split the total commission equally unless there is an agreement among them to split it in some other proportion. In an estate of about $100,000, the usual commission is 5% for one executor. If there are two executors, the commission would be 6%, with each entitled to 3% unless they agree to a different split. This answer is for informational purposes only and not to be taken as legal advice.
Can some of the money from a bank account be split now between the four heirs who are sisters leaving enough to manage an estate with no debt in Virginia?
Once the estate has been filed there may be debtors that come forward the you don't know about right now. By law the debts must be paid before any of the estate can be distributed. If you take the cash assets now and any creditor comes forward then the executor will bear the personal responsibility to pay the debts. The attorney who handles the estate must be paid.
How does the attorney or executor split the money of the deceased that did not leave a beneficiary name?
They will do it according to the law. Each state or jurisdiction has a law that specifies how it is distributed.
How long to you have to settle an estate in Maryland?
Our executor is our brother ,we has lied he have received 2.7 of property out of 8.19 now is 5.19 me an my sister belongs to split 5.19 a and if we sell he between a third because his name is on the deed ,need help
Who bought Michael Jackson's Neverland Ranch?
It's split between Colony Capital LLC and Michael's estate.
