Executor of the Estate and Small Estate Affidavit Qualifications

[TrudieL]

What is the name of your state? Oregon

What form do I fill out to become the executor of my Mom's estate (also in OR)? All of my siblings are the only heirs to her estate and all agree to me being the executor (as she is divorced).

How is a Small Estate value determined? I know Oregon Law is 200K or less for the property/house value. Zillow has a slightly higher value of 210K. Should I contact a realtor for a true property value? I want to avoid court fees as much as possible as well as make the process go as fast as possible. Do past owed property taxes, make the estate worth a lesser amount? She has no other assets/retirement other than a car that is maybe worth $1,800 and there is no will. Also can costs to fix up the house to sell, count against the property and make it also worth a lesser amount? It is not in sellable condition, currently.

Thank you for any help you can give.

Trudie

 

[LdiJ]

What is the name of your state? Oregon

What form do I fill out to become the executor of my Mom's estate (also in OR)? All of my siblings are the only heirs to her estate and all agree to me being the executor (as she is divorced).

How is a Small Estate value determined? I know Oregon Law is 200K or less for the property/house value. Zillow has a slightly higher value of 210K. Should I contact a realtor for a true property value? I want to avoid court fees as much as possible as well as make the process go as fast as possible. Do past owed property taxes, make the estate worth a lesser amount? She has no other assets/retirement other than a car that is maybe worth $1,800 and there is no will. Also can costs to fix up the house to sell, count against the property and make it also worth a lesser amount? It is not in sellable condition, currently.

Thank you for any help you can give.

Trudie

If the house is not in saleable condition, then at the current time it's not worth what a house would be worth in saleable condition. Debts of the estate would also reduce the value of the estate.

 

[TrudieL]

What form do I fill out to become the executor of the estate?

 

[Zigner]

What form do I fill out to become the executor of the estate?

There is no "form" that you fill out that automatically makes you executor.

Here are some informative links:

https://www.courts.oregon.gov/courts/lincoln/help/Pages/probate.aspx
https://www.osbar.org/public/legalinfo/1117_Probate.htm
https://codes.findlaw.com/or/title-12-probate-law/

If you need more guidance, then you should seek out a local attorney.

 

[t74]

What is the name of your state? Oregon

What form do I fill out to become the executor of my Mom's estate (also in OR)? All of my siblings are the only heirs to her estate and all agree to me being the executor (as she is divorced).

How is a Small Estate value determined? I know Oregon Law is 200K or less for the property/house value. Zillow has a slightly higher value of 210K. Should I contact a realtor for a true property value? I want to avoid court fees as much as possible as well as make the process go as fast as possible. Do past owed property taxes, make the estate worth a lesser amount? She has no other assets/retirement other than a car that is maybe worth $1,800 and there is no will. Also can costs to fix up the house to sell, count against the property and make it also worth a lesser amount? It is not in sellable condition, currently.

Thank you for any help you can give.

Trudie

There are companies that buy houses for cash in the current condition with unpaid taxes They are likely to lowball the value due to the risk, but many realtors want the home fixed up and staged. When you ask a realtor about selling price if you list it be sure to factor in all of the expenses - commission, tax payments for clean title, repairs, ...

Redfin has a good article about selling an inherited house.

Having real estate complicates an estate sue to the long term consequences to future owners if the title is flawed. You really need to consult an attorney. Remember legal fees are paid by the estate and not the beneficiaries so keep good records of payments so you can be reimbursed for expenses as an executor.

 

[zddoodah]

What form do I fill out to become the executor of my Mom's estate (also in OR)?

To the best of my knowledge, no Oregon estate attorneys follow these boards on a regular basis. You can google "Oregon estate forms." You could even throw in a particular county name. The smart thing to do would be to retain the services of a probate attorney. Why? Because it's at least possible that there's more than one form and things that you'll need to do that don't involve pre-printed, fill-in-the-blank forms.

How is a Small Estate value determined?

The same way the value of anything else is determined.

I know Oregon Law is 200K or less for the property/house value. Zillow has a slightly higher value of 210K.

According to a quick google search, you can use the simplified small estate process in Oregon if the fair market value of the estate is $275,000 or less, and not more than $75,000 of the estate is personal property and not more than $200,000 is real estate. There is a 30-day waiting period. Or. Rev. Stat. § 114.515.

Should I contact a realtor for a true property value?

The way to determine the fair market value of real property is to hire an appraiser. A realtor can help you do that, but you can hire an appraiser directly.

Do past owed property taxes, make the estate worth a lesser amount?

No.

Also can costs to fix up the house to sell, count against the property and make it also worth a lesser amount?

No. Also, even if the "costs to fix up the house to sell" could reduce the property value, fixing it up may increase the value.

You would be extremely unwise not to at least consult with a local probate attorney.

 

[TrudieL]

Is a manufactured home really considered only "personal property" and not "real property". I'm just shocked by this. Although, I just read that if the manufactured home is on property they own it is still considered "real property". Is that correct?

 

[Zigner]

Is a manufactured home really considered only "personal property" and not "real property". I'm just shocked by this. Although, I just read that if the manufactured home is on property they own it is still considered "real property". Is that correct?

Is it a "house" or is it a mobile home (i.e., a structure that has [or had] axles and wheels for transporting it on the road)?

 

[zddoodah]

Is a manufactured home really considered only "personal property" and not "real property". I'm just shocked by this. Although, I just read that if the manufactured home is on property they own it is still considered "real property". Is that correct?

"Manufactured homes" (i.e., mobile homes) are typically regarded as personal property, not real property. The basic definition of "real property" is land and structures permanently attached thereto. Although mobile homes are only moved uncommonly, it is inherent in the nature of a mobile home that it is not permanently attached to land. I've never heard of anything that would change that solely because the same person owns the mobile home and the land where it is located. Where did you read that?

 

[quincy]

Is a manufactured home really considered only "personal property" and not "real property". I'm just shocked by this. Although, I just read that if the manufactured home is on property they own it is still considered "real property". Is that correct?

Here is a link to the law:

https://www.oregonlaws.org/ors/308.875

If the manufactured home and the property that it sits upon are owned by the same person, the home is assessed as real property. If the manufactured home is owned by one person and the land upon which it sits is owned by another person, the home is assessed as personal property.

 

[Zigner]

Here is a link to the law:

https://www.oregonlaws.org/ors/308.875

If the manufactured home and the property that it sits upon are owned by the same person, the home is assessed as real property. If the manufactured home is owned by one person and the land upon which it sits is owned by another person, the home is assessed as personal property.

Does the classification for property tax assessment purposes control the nature of the property for probate purposes?

 

[quincy]

Does the classification for property tax assessment purposes control the nature of the property for probate purposes?

Beats me.

 

[Zigner]

Beats me.

The OP needs to speak to an attorney for guidance.

 

[quincy]

The OP needs to speak to an attorney for guidance.

I think that would be a smart thing to do.