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Executor Rights And Responsibilities
Summary
In New South Wales, if a will does not specify residency rights, an executor or beneficiary living in an estate property may need to pay rent to other beneficiaries. Executors must manage the estate according to the will, ensuring fair distribution among beneficiaries. Consulting an estate lawyer is advisable for clarity.Full Conversation
K
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My questions are regarding New South Wales Wills and estates. A person (person *) owns their own property but is residing between their own house and their partner's (person *) home. Both people's homes are solely owned by each respective person. Person * dies and the will states the person * will be given the opportunity to purchase the house before going to public market. Can the person * continuing living in the property of person * after person * dies?
The right to continue living in the property after person *'s death depends on specific clauses in the will. If the will doesn't specify residency rights, person * may need to negotiate with the executor or heirs. Consulting a local estate lawyer could provide detailed guidance.
If person * is the executor and there are three people that the property sale and residue are being equally divided between, does this change anything?
If person * is the executor, they have the responsibility to manage the estate according to the will's instructions. However, their role as executor doesn't inherently grant them additional rights to reside in the property. Their duties include:
- Administering the estate as per the will.
- Ensuring the property is sold if required by the will.
- Distributing the proceeds equally among the beneficiaries.
If person * wishes to continue living in the property, it would depend on their rights as a beneficiary or any specific terms in the will.
- Administering the estate as per the will.
- Ensuring the property is sold if required by the will.
- Distributing the proceeds equally among the beneficiaries.
If person * wishes to continue living in the property, it would depend on their rights as a beneficiary or any specific terms in the will.
There are no specific terms stating they can live in the property
Case Rating: *
In this situation, person *, even as an executor, would not have an inherent right to reside in the property unless the will provides specific terms for residency. The executor's role is to manage the estate as per the will and distribute assets accordingly.
Would you like more information on how executor duties may impact person *'s situation?
In this situation, person *, even as an executor, would not have an inherent right to reside in the property unless the will provides specific terms for residency. The executor's role is to manage the estate as per the will and distribute assets accordingly.
Would you like more information on how executor duties may impact person *'s situation?
If person * was living in the property, could the other beneficiaries request rent be paid?
Case Rating: *
In South Australia, if person * is living in the property without any specific terms in the will allowing them to reside there, the other beneficiaries could request rent be paid, as they are entitled to their share of the estate. It's advisable for person * to discuss this matter with the beneficiaries or seek legal advice to understand their obligations.
Do you have any other questions regarding estate management or beneficiary rights?
In South Australia, if person * is living in the property without any specific terms in the will allowing them to reside there, the other beneficiaries could request rent be paid, as they are entitled to their share of the estate. It's advisable for person * to discuss this matter with the beneficiaries or seek legal advice to understand their obligations.
Do you have any other questions regarding estate management or beneficiary rights?
In New South Wales
Case Rating: *
In New South Wales, the situation would be similar. If a person is living in a property that is part of an estate, beneficiaries may request rent unless the will specifies otherwise. It's important to review the will's terms and consult with beneficiaries or seek legal advice for clarity.
Do you have any further questions about estate management or beneficiary rights in New South Wales?
In New South Wales, the situation would be similar. If a person is living in a property that is part of an estate, beneficiaries may request rent unless the will specifies otherwise. It's important to review the will's terms and consult with beneficiaries or seek legal advice for clarity.
Do you have any further questions about estate management or beneficiary rights in New South Wales?
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