How long does an executor have to divide a property this left to 3 heirs?
Question Details: The property is 1 large parcel and for 12 years all property taxes have been maintained. Now the 2 parties want it split. Is there a time limit on the executor fulfilling this action?
There is no hard and fast answer or firm deadline in the law. The executor has a "fiduciary duty" to the beneficiaries and the estate to act with reasonable care and with loyalty to them. Therefore, the executor should act within a reasonable time frame, but "reasonable" will depend on whether any repairs or renovations, etc. have to be done to prepare the house for sale, local market conditions, etc. If at any time the beneficiaries believe that the executor is taking too long or is perhaps acting in some way in his or interest (as opposed to the interest of the beneficiaries), they can bring a kind of legal action traditionally called an action "for an accounting" to ask the court to review the executor's actions.
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