If property was listed in a Will to be sold but the property is rented, should all parties listed in the Will get an equal share of the rent?
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If property was listed in a Will to be sold but the property is rented, should all parties listed in the Will get an equal share of the rent?
Asked on July 15, 2013 under Estate Planning, Texas
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
I am so sorry for your loss. This is really not a yes or no answer here. Was there a reason that the Executor chose to rent and not sell? Possibly that the value had decreased or he or she rented to give the estate money to pay some bills until the house is sold? And at what stage of the probate are we? Is it being rented while the estate is being probated but will be sold after? If the property has been trasnferred to the names of the beneficiaries then the beneficiaries will split the proceeds as per their percentage of ownership. If the house is still in probate then the rental proeprty goes to the estate account. Good luck.
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