A personal representative or legal personal representative is the executor or administrator for the estate of a deceased person. The law requires personal representatives to follow the terms of the deceased person’s will (assuming that the individual who died had a will).

A Personal Representative (commonly referred to as an Executor) of an estate is an individual or institution designated to administer the estate of a decedent. The primary duty of a Personal Representative is to protect the estate in a manner consistent with the decedent’s wishes.

Can a beneficiary of a mother’s estate stay in the House?

Who are the beneficiaries of your mother’s estate – If they all agree, you may be able to stay in the house. However, if the house needs to be sold to pay your mother’s bills, you will need to leave. Also, you should be responsible for either paying all the bills and expenses or repaying the estate for expenses paid while you occupy the house.

What happens to your basis when you sell your mother’s home?

You receive a step-up in basis in the value of the property; aka your basis is the fair market value of the home as of your mother’s date of death, so if you sold it within a year of your mother’s death, it’s doubtful there was a loss or a gain.

Can a personal representative of a deceased person sell a house?

“Generally speaking, you have no legal authority until the court has named you as the personal representative. So, in most cases you really can’t do anything,” explains Palley. “You can’t sell the house, and in reality, you can’t even list that house for sale.

Who is the executor of my mother’s estate?

Ask a lawyer – it’s free! Currently, as long as the property was your mother’s, her estate owns the property, not you. As executor, you are the one with the authority to make all of the decisions with regard to the property, but you do owe a fiduciary duty to the heirs (presumably, to you and to your sister)to maximize its value.