Issues for executors when selling a house

Probate is often applicable in most cases where the deceased left a will which cannot be executed by the Executor until after legal confirmation by the probate courts. Therefore the administration of the deceased’s estate is not valid without the due process of probate following suit.

There are some instances where probate may be notwithstanding in the division of assets, such as is the case with non-probate property, and this has been exhausted in the article on Probate and Non-Probate property.

So for the cases where probate applies, why would you sell a house in probate? Here are the reasons for selling real estate in probate:

To settle liabilities

Sometimes the deceased leaves behind a number of liabilities in terms of debts, taxes, and claims from creditors whose payment may not be realized without liquidating some assets from the deceased’s estate.

In such cases, the most prized assets, such as real estate, prestigious vehicles, a boat, etc, come in very handy in settling the liabilities through liquidation.

Monetary preferences of the heirs

The last will may have a number of heirs and beneficiaries named to inherit the deceased’s real estate properties, but the heirs may not be interested in taking up the property as is. Many heirs prefer having the inherited real estate turned into an equivalent monetary value that they can then make more use of.

No Share – Don’t Dare-

The last testament may have a provision for the deceased’s real property to go under joint custody or shared ownership amongst two or more heirs. However, inheritance is famed as the farm whose seeds seldom grow together-and some heirs would rather have a probate house sold at an undervalued price, than share the property with an estranged fellow heir. Selling the house in probate naturally falls in place as a solution, even if only for the sake of peace and sanity-especially the Executor’s!

Cumbersome management of the inherited property

Managing real estate, and an inherited one at that, may not be as rosy as it is cut out to be… There are additional responsibilities and burdens attached to the property and they include:

possible repairs and renovation costs

pending or continuous mortgage payments

associated property taxes according to the state laws

The tragedy of loss

Some people wouldn’t mind it or just don’t care altogether-but you can’t blame yourself if you’re not one of them! There are enough urban legends, superstitions and mysterious occurrences that may have worked their way on you. Now, what if the deceased was close to you…a relative, a loved one, and one whose house was left to you? It’s hard enough accepting your loss and coming to terms with the fact that they’re gone forever-so, what of living in their house? Figures! Houses for Sale in Cranbourne North

Real Estate in Cranbourne

Real Estate Business In China

The Real Estate Business cycle and financial stability are closely correlated. In light of global real estate bubbles, China’s real estate cycle has attracted wide attention since 1998. The present paper analyzes three driving factors in the context of the current real estate cycle namely, economic growth, macroeconomic environment and institutional establishment. Based on quantitative analysis, it is concluded that the implications of the current real estate cycle for financial stability include risks of real estate credit exposure, government guarantees and maturity mismatch. Some corresponding policy implications are discussed, such as advancing banking reform, encouraging the rational behavior of local governments and strengthening the regulation of foreign capital flows in and out of China’s real estate industry.

That’s the gist of a local government initiative to revive real estate investment in Chongqing, one of China’s biggest cities. The municipal government in the southwestern metropolis floated a plan in December that said new mortgage holders would be eligible for a refund on a big chunk of their income taxes.

Reviving real estate could be an important part of spurring on China’s slowing economy. With widespread homeownership in China, real estate values are a key measure of consumer spending power. And the property sector is among the leading sources of demand for everything from steel to appliances.

We Provide Comprehensive China Real Estate Related Services. As an international law firm, we offer clients advisory and transactional services in connection with all aspects of real estate matters in China including the acquisition, development, construction, financing, ownership, leasing and operation of real estate assets and companies.

Expat Apartments: These range from luxurious to nice and from downtown to Pudong, with prices varying accordingly.

Living with the Chinese: This is the cheapest way to go, and more and more foreigners are turning to this option. Many real estate agents are now able to provide an interpreter, though if language is a problem, you might want to bring a long a Chinese speaking friend. For more details

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Hiring a Professional Retail Contractor to Do the Jobs Right

Retail remodeling and construction projects can either be very difficult or a smooth undertaking depending on the retail contractor you have hired. Thing can take a negative turn if you select a company that is not well efficient or it is not highly experienced to understand your goals and the important aspects of your business. Although price is a big matter to consider, the lowest bid may not always be the best value. On considering these important facts, you will be able to choose the right professional to insure that your business project is run successfully and tension-free.

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Once you have narrowed down the list of retail contractors available in the industry, it is time to know the estimated budget and time required for the completion of project. Today, a lot of companies have lowered down their profits to be competitive in the market. However, companies with a much lower estimate may be reducing their prices by using inferior quality materials. So, take time to check carefully all the aspects before you arrive at final decision.

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