Full question:
I've been advised to retrieve a Petition and an Order for Summary Administration - Testate in order to get a one certified order to change the property to my name. The question is there is only the property at hand and my father said it should be divided amongst the five of us with one since being deceased and he has 2 chldren. Is it possible for me to be reimbursed the monies I've or my immediate familly have put in keeping the property from going into foreclosure?
- Category: Wills and Estates
- Subcategory: Disclaimer of Property Interest
- Date:
- State: Florida
Answer:
If the will does not specify that the property is to be distributed to the heirs without any encumbrances, the inherited interest will be the same as the deceased’s interest at the time of death. If the executor needs to pay mortgage payments to preserve the property during the estate administration, the heirs may be responsible for reimbursing the estate for those payments.
It may also be possible for an heir to disclaim their interest if the heirs decide to divide the property differently than stated in the will. The specifics will depend on the situation. Generally, funds used to maintain the property can be repaid to an executor if they were incurred during the probate process. However, if the expenses occurred before the estate was opened, they may be governed by contract law and principles of equity, depending on the agreements made.
If the decedent has been deceased for more than two years or the estate's total value is less than $75,000, you may qualify for a summary probate process under Florida law. This is known as Florida Summary Administration. Once the court grants an order of summary administration, that order can be used to collect and distribute the decedent’s bank accounts or other assets.
In cases where there are no assets available to pay creditors, or if all assets are exempt or will cover only final expenses, administration may not be necessary. For example, a certificate of deposit (CD) with a named beneficiary may pass outside of probate.
For more details, refer to the Florida statutes regarding summary administration (Fla. Stat. § 735.201) and disposition without administration (Fla. Stat. § 735.301).
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.