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In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the state where the deceased resided at the time of their death.
In probate, divvying up assets, including real estate, is a duty that falls to an executor. That may be someone named in the will, such as a family member or an attorney, or it could be someone ...
Heirs property, or heirs' property, refers to property that is passed between generations of family members without the involvement of local probate courts, without a will or formal estate strategy. [1] Heir property is commonly viewed as an unstable form of ownership, since co-owners often have limited rights over the property. [2]
A probate sale is the process executed at a county court where the executor for the estate of a deceased person sells property from the estate (typically real estate) in order to divide the property among the beneficiaries. There is a personal representative of the estate who will determine if the real estate is going to be sold.
Legacy – testamentary gift of personal property, traditionally of money. Note: historically, a legacy has referred to either a gift of real property or personal property. Legatee – beneficiary of personal property under a will, i.e., a person receiving a legacy. Probate – legal process of settling the estate of a deceased person.
In contested matters, the probate court examines the authenticity of a will and decides who is to receive the deceased person's property. In a case of an intestacy, the court determines who is to receive the deceased's property under the law of its jurisdiction. The probate court will then oversee the process of distributing the deceased's ...
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