Personal representative of the Estate

[SysAdm]

What is the name of your state?Florida...

Does a Personal representative of the Estate own the property?

Basically here's the scenerio...

House in Foreclosure, owner died, Priest and Heirs are involved now. Priest is the Personal representative of the Estate. The Heirs already signed Quit Claim Deeds over to me, they don't want anything to do with the property.

The Bank will take a payoff and do an Assignment of Mortgage with me, alreay have the Quit Claim Deeds from the Heirs, but the damn priest won't budge... says he will only talk to the Bank... says he will not sign any Quit Claim Deed...

So my question is... if I pay the Bank and stop the Foreclosure can I get clear title without a Quit Claim from the Priest, who happens to be the Personal representative of the Estate?

P.S... There are no liens or seconds on the property, the Bank is the only one wanting money for the property.

Thanks in advance...

Michael

 

[SysAdm]

cont...

I did find this little bit of info out... but I'm not sure if this pertains to Florida law and I'm not sure what a "closing statement" is or "order closing an estate".


(1) A personal representative's appointment terminates 1 year after the filing of a closing statement as provided.

(2) A personal representative's appointment terminates when the court enters an order closing an estate as provided.


Michael

 

[BelizeBreeze]

Unless the priest is also a beneficiary or the estate is still open then what's the problem?

 

[BelizeBreeze]

Furtheremore:

Taxable estates cannot close until the IRS signs off on the Estate Tax Return 706, which has to be filed within nine months after the date of death and often takes that long to prepare. Taxable estates are doing well to close in two years. However, the work is primarily done in the first nine months of a taxable estate, and the rest of the time is spent mainly waiting for IRS review and approval to close the estate.

 

[SysAdm]

>Unless the priest is also a beneficiary or the estate is still open then what's the problem?

The Priest is NOT a beneficiary, and the Estate is NOT open... so I guess there is NO problem... Right? That's what I'm asking... I want to make sure I do not need the Priest to do a disclaim of the entire interest or some other kind of legal doc... so basically I don't have to even worry about getting clear title if the above two reasons are NOT?

Second issue:

The owner has been dead now for almost 3 years, the house has been vacant this whole time... So how can I found out if the IRS signed off on the Estate Tax Return 706?


Thanks again...
Michael

 

[BelizeBreeze]

You can get a copy of the probate file from the court or you can call the local ofice of the IRS.

 

[SysAdm]

cont...

I figured it was in the Probate, which I don't recall seeing it there... funny thing about the Probate in this particular case... it never finished or closed!! The Probate Attorney went out of business and quit practicing law.... so by law, after one year of no activity the Probate is automatically closed by the Judge. The year ends Oct. 7th... (this Thursday!)

I will go back and see if there is anything in the Probate pertaining to the IRS...

If I do not find anything about this, then what? Do "I" owe the IRS for anything to do with the Estate if I stop Foreclosure?

Michael

 

[BelizeBreeze]

Check the file first. After that, if the document isn't there, go see a probate attorney to see what you can do to close the estate. It looks like the good father doesn't know what he's doing.