When an adult (depending on what is considered an adult in your area, usually it is 18 or 21 years old) dies without living a will, this is known as intestate. In cases like this, the estate of the person will divided not by the surviving family or relatives but by the courts basing on the prevailing laws in their location. Usually, the spouse gets a greater percentage of the estate, in some cases, the parents if there is no spouse, even children from a previous marriage are considered.
The surviving heirs can request for a court appointed administrator to handle the estate on a temporary basis until all taxes and debts are paid and the division of the estate is finalized. The administrator is just like an executor of the estate, he will also represent the estate while there is no final judgment from the court. The administrator will be paid by the estate for the services he renders.
January 14th, 2010 in
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It is a little sad to learn that oer 20.1 Billion of the nearly 33 Billion yuan ($4.68 billion) of the nearly 33 billion yuan ($4.68 billion) embezzled from Shanghai’s social security fund was invested in the real estate sector. This sparked an 18-month investigation into the scandal for which Shanghai’s former Party chief Chen Liangyu has been arrested. The fraud was first uncovered in June of 2006. It was later known that the money was financed to various companies, including the Shanghai-based Bailian Group and Feidian Investment, which investments have been used mainly in property and highways.
December 7th, 2009 in
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It is very admireable that Vancouver Island Realtors are taking necessary measures to protect both themselves and the communities they work on and serve. A recent program was launched, dubbed as Realty watch, by 1,195 agents. And, while this program is designed to prevent crime against realtors, members are allowed by technology to directly communicate with each other. This program is relatively simple and it has been a tool used for several years already by Lower Mainland Real Estate boards. Realtors who spend much of their time driving around community doing different business, will serve as the “eyes” and “ears” for the police.
November 20th, 2009 in
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The increase in the rate of fraud in real etate industry is really alarming. The fraud and other schemes are directly proportional to the boom of the real estate property market. Every year, there are more than a hundred families from different class of life are being victimized. Fraud cases involving real estate have shown to have doubled every succeeding year.
Just recently, two mortgage brokers, LaVonne Hamilton and David Kennedy were separately sentenced for their respective fraud schemes in Jackson, Mississippi.
The Internal Revenue Service Criminal Investigation (IRSCI) initiates investigations regarding real estate fraud cases. IRS is playing a big role in the continuous fight against these cases.
October 24th, 2009 in
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7. Never Rush things
Never rush things especially if you are reaching the finalization of the deal. Never get too excited, be particular in every detail and never say a yes until you are fully certain about the conditions.
If you do things without thinking it over you might get a bad deal out of your property.
Search for the best offer, you are the owner of the property so buyers have no right or power to pressure you into the deal. You should be the one setting the pace. Be careful of making decisions out of whim and never finalize unless you are ready to carve the deal in stone.
September 30th, 2009 in
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Do you have an estate property that needs to be converted into cash? But you don’t want to employ the service of an estate agent?
That’s easy, go online.
Posting your estate online is probably the easiest and the most effective method of selling your house without an estate agent. Not only will it save you dollars and time, but your post about your estate will be viewed by more people as well.
Marketing your estate property online does not require advanced net knowledge or deep marketing skills. All you need to do is to know what you want and knowing how to do it.
Search for sites that advertise properties, some are free and some require a little payment.
August 2nd, 2009 in
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Apartment rentals in areas as plush as Silicon Valley have dropped to a very low 3.8%, considered to be the biggest rate drop in the whole US might be sign of more trouble for the housing industry. Rental rates have been going down since the market went into collapse sending many property owners clamoring to keep their existing tenants while offering ever lower rental rates to entice new ones. Properties that used to go for premiums are now being rented out at discounted prices to keep them occupied and property owners are shifting to discounts and more perks to keep tenats where they are. The ailing job market is the culprit for with less jobs, less people need places that are closer to their workplace Rising costs of living are also to blame for living within coty limits is considered to be more expensive than in the outer limits of metro areas. How low these rental rates would go is anybody’s guess, much like when the recession would end. Just hope the economy recovers before many of these properties end up empty, more victims of the economic crunch.
July 16th, 2009 in
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Commercial office spaces are ending up empty as offices close shop, all victims of the economic recession. Even large companies are opting to close satellite offices, relocating their people from rented spaces back into their own facilities to save on rental costs. Commercial property owners are willing to lower rent just to keep their renters happy, for vacant properties cost money to maintain, money that should be coming from the rent tenants pay. With many offices trimming down their workforce and costs, more vacancies are to be expected so property owners are going to have to settle for more ideas on how to best utilize their rental properties. Some metro areas are seeing figures of over 10% in vacancies, a high rate compared to a few years back, affected by the economic crunch that still has us in it’s grasp to this day.
June 16th, 2009 in
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The surprising development has figures showing that non-home development spending has increased by a point and a half compared to the previous month and better than figures from the same period last year. maybe an after effect of the good news the housing market got last February when there was a sudden positive rise in the home marketing index. The good news was however dampened by most of the negative economic data that surfaced but in today’s recession wrecked world, any good news is still good. There is a good side to all the dropping prices for as it can be seen, the rock-bottoming of the market may be at that said point for realtors and other industry experts/analysts are reporting that the pricing index for new homes has stabilized somewhat to the same level. Read the rest of this entry »
The many rental estates in the urban jungle is hurting a lot from the problems caused by the real estate market collapse and it is hurting bad. Life is getting harder for rental estates due to lessening demand as people, businesses and the market itself is shunning away from the problems of not enough cash going around as people cut down on expenses. Rental properties, commercial properties are on the slowdown for many businesses that have closed are leaving them unoccupied. Read the rest of this entry »
