Posted on: 19th Nov, 2011 09:23 pm
My mom left me a house that she listed as a gift outside of her trust. The executor has not transferred the house to me yet. Who should be responsible to pay the now due taxes?
Hi jacob,
Ownership rights or claims to property, both real estate and personal property, at the time of death. The total of a person's assets passes to his heirs, according to the terms of a will, or is disposed of at the discretion of a probate court if no will is left. Individuals plan for the orderly distribution of an estate through estate planning, which involves the drawing of wills and creation of trusts, to achieve maximum benefit for heirs or trust beneficiaries in event of death.
:idea:
Ownership rights or claims to property, both real estate and personal property, at the time of death. The total of a person's assets passes to his heirs, according to the terms of a will, or is disposed of at the discretion of a probate court if no will is left. Individuals plan for the orderly distribution of an estate through estate planning, which involves the drawing of wills and creation of trusts, to achieve maximum benefit for heirs or trust beneficiaries in event of death.
:idea:
Welcome jacob,
Unless the property is transferred to you completely, the estate will be responsible for paying off the due taxes. You may not be liable for paying the taxes now.
Unless the property is transferred to you completely, the estate will be responsible for paying off the due taxes. You may not be liable for paying the taxes now.
In my opinion,Property transfer your name and you are responsible to pay due taxes of house.