How can a former spouse or survivor assert entitlement to surplus funds following the owner’s death or divorce?
How to Claim Surplus Funds as a Former Spouse or Survivor in Kansas When a property owner dies or a foreclosure sale produces surplus proceeds, interested parties may have a right to those funds. In Kansas, a former spouse or surviving spouse must follow specific steps to assert entitlement. Detailed Answer 1. After the Owner’s […]
Read article →How to Distinguish Estate Assets from Corporate Assets in Kansas
How to Distinguish Estate Assets from Corporate Assets in Kansas Detailed Answer In Kansas, the estate of a deceased person and a corporation established by a relative are separate legal entities. Estate assets pass to heirs or beneficiaries through probate. Corporate assets remain with the corporation unless formally transferred. Understanding this division helps avoid confusion […]
Read article →What Options Exist for Selling or Auctioning Personal Property to Reimburse Estate Expenses and Equalize Distributions Among Heirs?
What Options Exist for Selling or Auctioning Personal Property to Reimburse Estate Expenses and Equalize Distributions Among Heirs? When you administer an estate in Kansas, you may need to convert personal property into cash. Proceeds help cover debts, taxes and administration costs. They also ensure heirs receive fair and equal distributions. Kansas law offers several […]
Read article →Who is eligible to receive surplus proceeds when the property was solely in the deceased spouse’s name in Kansas?
Detailed Answer When a property sells at execution or foreclosure for more than the debt and costs, Kansas law directs K.S.A. 60-2412 that the officer must pay the surplus to the judgment debtor or the judgment debtor’s heirs, administrators or executors. If the debtor is deceased, only the personal representative or executor of the estate […]
Read article →