What Authorization Forms Must an Heir Sign to Direct Distribution of Real Property Sale Proceeds in Connecticut
Detailed Answer When a decedent’s real property sells under Connecticut probate, heirs must sign specific written authorizations before a fiduciary can direct distribution of sale proceeds. These authorizations satisfy two legal requirements: approval of the sale and release of claims to distributed funds. 1. Consent or Court Approval for Sale Under Connecticut law, a personal […]
Read article →How to distinguish assets belonging to a deceased person's Connecticut estate from those held by a relative's corporation?
Detailed Answer When a person dies, assets they owned individually become part of their estate. A separate legal entity, a corporation created by a relative, holds its own assets. Connecticut law treats these two asset pools differently. Understanding Estate Assets Under Connecticut's Probate Code (Title 45a), the personal representative (executor or administrator) collects all assets […]
Read article →How Can a Former Spouse or Survivor Assert Entitlement to Surplus Funds Following the Owner’s Death or Divorce?
How Can a Former Spouse or Survivor Assert Entitlement to Surplus Funds Following the Owner’s Death or Divorce? Connecticut law provides clear procedures for a former spouse or survivor to claim surplus proceeds after a foreclosure sale, estate sale, or court-ordered divorce sale. Understanding the applicable statutes, filing requirements, and deadlines is crucial to securing […]
Read article →Connecticut: Who is eligible to receive surplus proceeds when the property was solely in the deceased spouse’s name?
Detailed Answer What Are Surplus Proceeds Under Connecticut Law? When a mortgage foreclosure sale yields more funds than the debt owed plus permitted fees, the extra amount is called surplus proceeds. The officer conducting the sale must apply the net funds according to statute. See Conn. Gen. Stat. § 49-14. Distribution When the Mortgagor Dies […]
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