Legal Question in Wills and Trusts in Rhode Island
A relative died recently and owned a house in Rhode Island. If all beneficiaries(5) are to share equally, are those living in the house responsible for mortgage, utilities, etc? If 3 of 5 are trustees and other 2 wish to sell the house, how many of the trustees must agree in order to go to probate, clear and sell the house?
1 Answer from Attorneys
It is a logical and practical solution that the beneficiaries residing in the house should have to pay for the house they are residing in. However, if there are 5 beneficiaries, then all five beneficiaries should share in the payment of the carrying costs for the house (i.e. the Mortgage, Taxes, Insurances for the house) since they presumably expect a 1/5th payout when the property is sold. Thus each person needs to preserve their portion of the asset in order to obtain their share of the equity.
No particular number of trustees need to agree in order to place the matter into Probate and clear and sell the house. Any interested party may submit the matter for probate processing.
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