Suing An Estate Executor Without Bond In Contra Costa
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How Long Does An Executor Have To Sell Property In California? In the Golden State, there's no hard and fast deadline for an executor to sell a property. However, they do need to keep things moving along with the estate's timely administration.
The executor or trustee can sell the property without approval from all beneficiaries as long as they are selling it in the best interest of the beneficiaries and the trust and at market value. This decision depends on several factors, including the debt the deceased person had.
Understanding the Deceased Estate 3-Year Rule The core premise of the 3-year rule is that if the deceased's estate is not claimed or administered within three years of their death, the state or governing body may step in and take control of the distribution and management of the assets.
– Executors are fiduciaries, meaning they must act in the best interest of the estate and its beneficiaries. They cannot use estate assets for personal gain or benefit from the estate improperly.
California generally requires for the executor to distribute assets within a year of being appointed, although there are many circumstances that can cause the executor to require more time, which they may be able to get by requesting an extension from the court.
California law says the personal representative must complete probate within one year from the date of appointment, unless s/he files a federal estate tax. In this case, the personal representative can have 18 months to complete probate.
Can You Sue A Deceased Person? The short answer to this question in California is yes. Two sets of California statutes set out the applicable law under these circumstances: Code of Civil Procedure Sections 337.40 through 377.42; and Probate Code Sections 550 through 554.
Liability when an executor makes a mistake Unfortunately, a genuine mistake can sometimes snowball into a much bigger and often expensive problem that can be very complicated to resolve. The executor of an estate can be held personally liable for a mistake that results in a loss to the estate.
How To Sue A Deceased Person's Estate: Understanding California Law. Probate Code Sections 550 and 552 provide that an action against a deceased person, where the plaintiff seeks recovery of insurance proceeds only, may be filed against “the Estate of Decedent” within the decedent's estate.
