Can I rent my deceased father's house before probate is finished?

Wills And Estates 3 views 3 answers
My dad passed away with a will. My brother and I are the only beneficiaries of my father's estate. We filed the will with the County Court where we will transfer title to our name. The probate process is ongoing and we have someone who wants to rent the home. Can I rent the property while it is still in my deceased father's name?

Attorney Answers

3
Timothy Kalamaros ·
I can't speak for Nevada, but in Indiana if you beneficiaries who did not mind an extended time period for estate adminstration, and a really good tenant in hand, then rental would be acceptable. However, the insurance expense usually militates against this, and, also a tenant can frustrate efforts to sell an estate property and effectively liquidate and finish an estate. Talk it over with your lawyer first.
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Charles Shultz ·
I agree with Mr. Kalamaros, if your brother agrees this should be fine. Since you are intending to own the home jointly, you shouldnt do this without your brothers okay.
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Dara Goldsmith ·
It may depend upon what powers you were given as the PR of the Estate. Is it covered by the Will? Covered by the authority granted? If you are undsure, you should petition the probate court to get authority to do so, if you decide to go forward with the rental. I agree with the other attorneys that it will make it more difficult to sell and there may insurance issues associated with the same. As such unless, the estate will be open for a long time, it may not be a good idea or cost effective. You should talk this over with your probate attorney who can better guide you on the necessary steps, advantages and pitfalls. As a side note, it may be best to sell the property while the Estate is open, rather than as cotenants when you inherit the same. Co-ownership can be difficult especially if you both have different expectations. If you are going to continue to own it as cotenants, execute a written agreement of the terms and conditions before the probate closes to avoid future problems.
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