Can I continue to live on estate property if I’m one of the benficiaries?
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Can I continue to live on estate property if I’m one of the benficiaries?
My father died leaving 3 houses to 4 heirs, of which I’am one. I have always lived in 1 of the homes, 57 years. My father died before signing it over to me. Do I have to move out before the estate is settled?
Asked on October 13, 2012 under Estate Planning, New Jersey
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Unless the executor or trustee of your father's estate requires you to move out of one of the units that you ultimately are entitled to receive from your father you do not need to do so. In fact having the unit occupied pending the trust administration or probate of the father's estate is a wise thing to do from a security standpoint as well as keeping insurance on the unit lower. Insurance on an unoccupied unit is higher than an occupied one.
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