Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Why is interest in an estate not run like a business, where…

Customer Question
Why is interest in an...
Why is interest in an estate not run like a business, where the highest percentage of ownership for example: 70/30 would have the higher percentage make the final decision?
Submitted: 2 years ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 5 minutes by:
2/16/2016
Real Estate Lawyer: Barrister, Lawyer replied 2 years ago
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 43,106
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

.

This would be because the heirs don't actually own anything until the asset is transferred from the estate to them by the executor of the estate. So the estate owns the assets in it up until the moment they are transferred to the beneficiaries of any will and they have no legal authority to determine how the estate is administered.

.

The administration of the estate is determined by state law and carried out by the executor, not by a "vote" by the heirs as to how they think things should go.

.

With that said, there is nothing that would have prevented the testator from putting a clause in their will that would have given some authority to an heir about how assets were to be handled or distributed if they had wanted the heir to have that power.

.

.

thanks

Barrister

Ask Your Own Real Estate Law Question
Real Estate Lawyer: RONB-ESQ, Lawyer replied 2 years ago
RONB-ESQ
RONB-ESQ, Lawyer
Category: Real Estate Law
Satisfied Customers: 357
Experience: Right of Way Manager at Access Midstream Partners, LP
Verified

Hello my name is ***** ***** I am a licensed attorney. I welcome you to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. The question and response may be viewed by other parties as noted in JA’s terms of service. By continuing, you confirm that you understand and agree to these terms.

I am a different attorney on the site. I wanted to confirm that you requested another expert before I get into the question. Since it appeared on our main page that leaves me to believe you requested a new expert could you confirm that for me before we continue.

Ron

Ask Your Own Real Estate Law Question
Real Estate Lawyer: RONB-ESQ, Lawyer replied 2 years ago

In case I forget to tell you I will be online until about 10:00 PM CST and should be back online around 1:00 PM CST tomorrow. Do note that you can reply here and if I am offline will respond when I get back online tomorrow.

Ask Your Own Real Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a real estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask RONB-ESQ Your Own Question
RONB-ESQ
RONB-ESQ
RONB-ESQ, Lawyer
Category: Real Estate Law
Satisfied Customers: 357
357 Satisfied Customers
Experience: Right of Way Manager at Access Midstream Partners, LP

RONB-ESQ is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Barrister

Barrister

Lawyer

43,106 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

8,377 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

8,253 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,208 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,998 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

P. Simmons

P. Simmons

Lawyer

3,572 satisfied customers

12+ yrs. of experience including real estate law.

< Previous | Next >

Related Real Estate Law Questions
If I buy a primary residence for $10,000 and grant the
If I buy a primary residence for $10,000 and grant the seller/owner a 30 day purchase option for $11,000 which he/she exercises within 30 days, am I in violation of Michigan usury laws? … read more
Robert L
Robert L
Juris Doctor
307 satisfied customers
I need questions answered regarding partial interest
I need questions answered regarding partial interest appraising of jointly owned property for estate settlement purposes.… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,366 satisfied customers
If you have property with joint ownership, how do you settle
If you have property with joint ownership, how do you settle a disagreement where 30% of owners refuse to go along with the majority. Under no conditions do we want to harm family relationships… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
In 2010, my mother-in-law transferred her rights to her
In 2010, my mother-in-law transferred her rights to her condo through a quitclaim to my wife. When my mother-in-law died in 2015, my wife had her name added to the mortgage so now she has her name on … read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
In structuring a real estate deal that involves building an
In structuring a real estate deal that involves building an apartment building from construction through to the building being stabilized (85% occupancy), which should take no more than a total of 30 … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I inherited a very small portion of a commercial property
I inherited a very small portion of a commercial property where a business is. This business pays me a rent every month Which is not even close to the market rent rate, in fact the rent has not increa… read more
Barrister
Barrister
Lawyer
43,106 satisfied customers
I am looking to purchase a 5 unit foreclosure. I was
I am looking to purchase a 5 unit foreclosure. I was informed I would need to obtain a commercial mortgage. I an not a business entity. Is it possible for me to obtain a commercial loan for an investm… read more
Barrister
Barrister
Lawyer
43,106 satisfied customers
Need help with split ownership in a property. My dad and I purchased a property with c
Hi, need help with split ownership in a property. My dad and I purchased a property with current market value at 3.5m. He has contributed 1,150,000 towards the property. The house and mortgage is in m… read more
Barrister
Barrister
Lawyer
43,106 satisfied customers
Can we dissolve a FLP after one of the GPs has died and deed
property back to the surviving grantor? Without trigger ing Prop 13 issues in CA? We formed a FLP long ago when estate taxes were an issue. However, father died. We are in CA and we wish to dissolve F… read more
socrateaser
socrateaser
1,031 satisfied customers
My mother wants to sell her house and has a good amount of
My mother wants to sell her house and has a good amount of equity in the home. I want to take over her mortgage and move in with her. Can we make an agreement where I will own a percentage of the home… read more
WiseOwl58
WiseOwl58
JD Honors Graduate
4,232 satisfied customers
I am purchasing a condo with my husband. My family and I are
I am purchasing a condo with my husband. My family and I are responsible for the majority of the down payment. What type of co-ownership interest should I use for the title to ensure that our larger i… read more
Barrister
Barrister
Lawyer
43,106 satisfied customers
I share this land with my sister. I dont get along with her
I share this land with my sister. I don't get along with her husband. As a majority owner can I control all the decisions as to who can hunt, who can use the land. I guess I need to buy her out so I d… read more
KimberlyLaw
KimberlyLaw
Principal Attorney
Master\u0027s Degree
3,911 satisfied customers
The $200,000 Business Residential Equity Line was discharged
The $200,000 Business Residential Equity Line was discharged under Chapter 7. The loan adjuster has invited me to make the major national bank an offer to remove the junior lien on my investment/renta… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,939 satisfied customers
When you own a deed with 2 people as joint tenants with right
When you own a deed with 2 people as joint tenants with right of survivorship, Do you both own 50% or 100%? Can you remove the other person from the deed without their consent? How does this work?… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
My wife an I are reviewing a buyer vesting worksheet for home
My wife an I are reviewing a buyer vesting worksheet for home purchase. There are three married couple designations: Joint tenants Community property Community property with right of survivorship If w… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
My husband and I are currently in the process of finalizing
My husband and I are currently in the process of finalizing escrow, and I've received the paperwork for the title. I have children from a previous marriage that are over the age of 18 but still in col… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,467 satisfied customers
Myself and 2 colleagues own 4 rental properties between us.
Myself and 2 colleagues own 4 rental properties between us. It is a partnership now and not all properties are titled/mortgaged by all of us. I would like to form an LLC or S-Corp and place all of the… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I own a property with 70% and the owner has 30%. I am the ...
I own a property with 70% and the owner has 30%. I am the only owner on the loan as well as the only owner who has the capital investment in the home. The 30% owner''s interest is in the form of a pro… read more
Dave Kennett
Dave Kennett
Doctoral Degree
25,741 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x