Should an executor ask for fair market rent from occupants that they allow to stay in a decedent’s house?
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Should an executor ask for fair market rent from occupants that they allow to stay in a decedent’s house?
Asked on February 8, 2013 under Estate Planning, California
Answers:
Victor Waid / Law Office of Victor Waid
Answered 11 years ago | Contributor
Yes, the executor should ask for fair market value for rental property rents, as the executor has fiduciary duties to not allow waste to the assets of the estate and the beneficiaries; further the executor can be liable for the loss of rents to the beneficiaries of the will.
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