Difference between revisions of "Estates in Pennsylvania"
(Overview of the transfer of real property through probate and Estates) |
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| − | = Underwriting | + | = Underwriting = |
*If a Will does not specifically direct or authorize the sale of real property, ensure that the sale is not prohibited and that any devisees of the Property join in the conveyance. | *If a Will does not specifically direct or authorize the sale of real property, ensure that the sale is not prohibited and that any devisees of the Property join in the conveyance. | ||
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= Taxes = | = Taxes = | ||
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| + | = Foreign Fiduciaries = | ||
| + | Foreign fiduciaries can exercise power over Pennsylvanian property by complying with [https://www.legis.state.pa.us/cfdocs/legis/LI/consCheck.cfm?txtType=HTM&ttl=20&div=0&chpt=41&sctn=1&subsctn=0 20 Pa.C.S. § 4101]. This statute requires (1) filing of exemplified copies of listed documents with the local Register of Wills, (2) filing of an Affidavit by the foreign fiduciary stating the estate is not indebted to anyone in Pennsylvania, and the foreign fiduciary will not take any actions prohibited by their home state. The foreign fiduciary cannot exercise any powers within Pennsylvania until at least 1 month after the decedent's death, and must pay all taxes due the Commonwealth from a sale of the Property.<br> | ||
| + | <br> | ||
| + | For the Affidavit: “We therefore hold that until a debt has been judicially established, whether through a lawsuit or an audit pursuant to the grant of ancillary administration, an asserted but unliquidated obligation does not constitute an indebtedness for the purpose of § 4101(2).”<ref>''See'' ''Biglan v. Biglan'', 330 Pa. Super. 512, 479 A.2d 1021 (1984).</ref> | ||
See [[Inheritance Taxes in Pennsylvania]] | See [[Inheritance Taxes in Pennsylvania]] | ||
Revision as of 09:16, 17 February 2023
Contents
Overview
Underwriting
- If a Will does not specifically direct or authorize the sale of real property, ensure that the sale is not prohibited and that any devisees of the Property join in the conveyance.
Personal Representatives
Under the Probate, Estates and Fiduciaries Code, both Administrators and Executors are considered "Personal Representatives" and certain provisions apply to both roles.[1]
Statutory Powers
Power to Sell
"Except as otherwise provided by the will, if any, the personal representative may sell, at public or private sale, . . . any real property not specifically devised, and with the joinder of the specific devisee real property specifically devised."[2]
Intestate Succession
Wills
Taxes
Foreign Fiduciaries
Foreign fiduciaries can exercise power over Pennsylvanian property by complying with 20 Pa.C.S. § 4101. This statute requires (1) filing of exemplified copies of listed documents with the local Register of Wills, (2) filing of an Affidavit by the foreign fiduciary stating the estate is not indebted to anyone in Pennsylvania, and the foreign fiduciary will not take any actions prohibited by their home state. The foreign fiduciary cannot exercise any powers within Pennsylvania until at least 1 month after the decedent's death, and must pay all taxes due the Commonwealth from a sale of the Property.
For the Affidavit: “We therefore hold that until a debt has been judicially established, whether through a lawsuit or an audit pursuant to the grant of ancillary administration, an asserted but unliquidated obligation does not constitute an indebtedness for the purpose of § 4101(2).”[3]
See Inheritance Taxes in Pennsylvania
- ↑ 20 Pa.C.S. § 102
- ↑ 20 Pa. C.S. § 3351
- ↑ See Biglan v. Biglan, 330 Pa. Super. 512, 479 A.2d 1021 (1984).
