Real estate can cause all kinds of problems when a family member passes away. First, it can take a long time before the will is executed and the inheritor is actually in control of the property. Second, the person who inherits the property also inherits the financial responsibility (mortgage, taxes, etc.), which they end up responsible for even before they own the real estate! This Tale is about what happened when someone inherited a piece of property and almost went into foreclosure with it.
Download the audio file HERE.
Download the handout HERE.
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Podcast Episode 105:
“Probate Sales Need Patience”
This Tale is about the legal process in Alberta (and some other Canadian jurisdictions) of selling property as part of an estate after someone dies. A long-time client got in touch to say that her Dad had passed away. I knew her Dad and had done seven or eight real estate transactions for the family over the last 15 years. Dad was a great guy and I was very sorry to hear of his passing.
My client said it was a simple estate; basically a bank account, some personal possessions, a few stocks, bonds, and mutual funds, and an acreage where Dad still lived at the time of his passing. There was a Will appointing my client as sole executor and an estate lawyer was already on working on probate.
Download the audio file HERE. Download the handout HERE. (control click or right click + save as)
Podcast Episode 43:
“There’s A Dead Guy In My Suite! (Follow-up)”
This Tale follows up on the previous one about what you can do when a tenant passes away. Our example shows the steps taken by a landlord to deal with next of kin, and what happened when the family didn’t end up taking responsibility for the tenant’s estate.
Podcast Episode 42:
“There’s A Dead Guy In My Suite!“
What do you do when a tenant dies? Most landlords will want to re-rent their property as a soon as possible, but wills and estates can take a long time to resolve. There are, however, still legal ways of preceding that can be quicker.