Posted on: 28th Mar, 2007 10:36 am
Property/Ownership: Aside from the Priliminary Change of Ownership, Affidavit of Death (notorized) and Certified Death Certificate, what else is required for this to be recorded? How soon after a death should this be done? Is it required that an attorney record this information or can I, as an Executor, record this? Are there any consequences if I decide to own/stay with the property instead of selling as indicated on the Will and pay the 5 beneficiaries their portion? The beneficiaries live in Mexico and do not have Visa to the U.S. How do I handle the aspect of making sure they get their money?
Grace,
"Are there any consequences if I decide to own/stay with the property instead of selling as indicated on the Will and pay the 5 beneficiaries their portion?"
The main intention of property owner in making this will is that all beneficiaries get their share of properties value. That is the reason in the will it is mentioned that property should be sold and its proceeds divided among the 5 beneficiaries.
Beneficiaries will have no objection to your keeping their property as you will be paying them their due shares, which they would have otherwise received from the sale proceeds.
Miller
"Are there any consequences if I decide to own/stay with the property instead of selling as indicated on the Will and pay the 5 beneficiaries their portion?"
The main intention of property owner in making this will is that all beneficiaries get their share of properties value. That is the reason in the will it is mentioned that property should be sold and its proceeds divided among the 5 beneficiaries.
Beneficiaries will have no objection to your keeping their property as you will be paying them their due shares, which they would have otherwise received from the sale proceeds.
Miller
If beneficiaries are not going to own this property then it is not necessary for them to come to US to get payment of property share. You can send monies to them directly to their addresses in Mexico.