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Property left to 3 people, one living in house

  • 27-02-2021 3:42pm
    #1
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,024 ✭✭✭


    Person dies leaving a house to their 3 kids.

    One kid recently moved into the house to care for the deceased, it was agreed between all 3 kids that if the owner died that he could stay in the house for 6 months and it was also agreed that bills would be put in the caretakers name (prior to the owner's death).

    There are no other joint owners or beneficiaries.

    The kids are reasonably happy that all will be handled in fairly good faith, but nothing is down on paper because this is the "ah sure it'll be grand" family.

    Questions:
    - Does the executor assume property owner responsibilities (in terms of maintenance, repairs)?
    - Can the executor insure the building on behalf of the estate?
    - Any other considerations?


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,490 ✭✭✭✭Victor


    3DataModem wrote: »
    Does the executor assume property owner responsibilities (in terms of maintenance, repairs)?
    I think the correct language is that the estate assumes the responsibilities. If there are no funds available, maintenance and repairs could be difficult.
    3DataModem wrote: »
    Can the executor insure the building on behalf of the estate?
    It would be very prudent to do so, assuming there are funds. The beneficiaries could probably insure it, if they so wished.
    3DataModem wrote: »
    Any other considerations?
    Do an inventory of what is in the house and any other assets.


  • #3
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,024 ✭✭✭3DataModem


    Victor wrote: »
    I think the correct language is that the estate assumes the responsibilities. If there are no funds available, maintenance and repairs could be difficult.

    There are funds, AFAIK.
    Victor wrote: »
    It would be very prudent to do so, assuming there are funds. The beneficiaries could probably insure it, if they so wished.

    Would one beneficiary be enough to have an insurable interest to insure the whole building (assuming he didn't consult with the other two)?
    Victor wrote: »
    Do an inventory of what is in the house and any other assets.

    I think it can be safely said that the chattels and stuff in the house are of limited value, or at least that some ad-hoc distribution is unlikely to be challenged or disputed. It's the gaff and the cash only. I think I'll speak to the Executor/Administrator/Representative to ensure he does this anyway, to avoid liability.


  • #4
    phildub
    Registered Users Posts: 257 ✭✭phildub


    3DataModem wrote: »
    Person dies leaving a house to their 3 kids.

    One kid recently moved into the house to care for the deceased, it was agreed between all 3 kids that if the owner died that he could stay in the house for 6 months and it was also agreed that bills would be put in the caretakers name (prior to the owner's death).

    There are no other joint owners or beneficiaries.

    The kids are reasonably happy that all will be handled in fairly good faith, but nothing is down on paper because this is the "ah sure it'll be grand" family.

    Questions:
    - Does the executor assume property owner responsibilities (in terms of maintenance, repairs)?
    - Can the executor insure the building on behalf of the estate?
    - Any other considerations?

    Can I ask, out of curiosity, if the testator has died and the beneficiaries have received their gift under the will why would the executor be worried about insurance or maintenance?


  • #5
    Peregrinus
    Registered Users, Registered Users 2 Posts: 26,678 ✭✭✭✭Peregrinus


    phildub wrote: »
    Can I ask, out of curiosity, if the testator has died and the beneficiaries have received their gift under the will why would the executor be worried about insurance or maintenance?
    Because they haven't received their gift under the will. Inevitably some time will pass between the death of the testator and the execution and registration of a transfer of the house to the beneficiaries entitled. During this time the executor has the legal estate in the house, and the responsiblity of maintaining it, insuring it, etc.


  • #6
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,024 ✭✭✭3DataModem


    Peregrinus wrote: »
    Because they haven't received their gift under the will. Inevitably some time will pass between the death of the testator and the execution and registration of a transfer of the house to the beneficiaries entitled. During this time the executor has the legal estate in the house, and the responsiblity of maintaining it, insuring it, etc.

    Exactly.


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  • #7
    phildub
    Registered Users Posts: 257 ✭✭phildub


    Peregrinus wrote: »
    Because they haven't received their gift under the will. Inevitably some time will pass between the death of the testator and the execution and registration of a transfer of the house to the beneficiaries entitled. During this time the executor has the legal estate in the house, and the responsiblity of maintaining it, insuring it, etc.

    Ah I see, thanks for the response


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