Legal Question in Wills and Trusts in North Carolina
Can I rent a property that is part of an estate that has not been closed yet?
1 Answer from Attorneys
It depends on the circumstances. First, who died? When? How long has the estate been probated? Are all the debts paid? Who inherited the real property? Who are you? The beneficiary or the personal representative? Is the property paid for?
Depending on the circumstances, if there is enough other assets in the estate to satisfy any possible claims and if the real property in question was devised to by will or under the intestacy law, then why not have the personal representative release the property to you now?
Title to land is already vested in the heirs/beneficiaries as of the moment of death. However, if it has been less than 2 years since the decedent passed away, then the beneficiaries cannot sell the land unless the personal representative is joined in the sale. However, if there is a will, then it may contain some guidance as to what the duties are with respect to the land. I would not do anything with the land unless you consult with the personal representative and make sure that the land is released to you before it is rented or sold.