The executor have to pay the beneficiaries for one year
The fact is that an Executor has a long list of responsibilities to finish throughout the probate procedure before the beneficiary inheritance occurs.That might be a shocking reality for recipients. Additionally, they can become frustrated or pressure the Executor to distribute their inheritance early. The executor must first obtain permission from the probate court before they are legally permitted to manage the estate in a standard probate case (one in which assets are not kept in trust). They are unable to access the deceased's money or create an estate bank account.
In order to start the probate procedure, the executor files a petition with the Will.
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If the sales contract is assigned, until what point in the transaction are the original buyer and seller obligated to fulfill the terms and conditions of the contract?
If the sales contract is assigned, until settlement point in the transaction are the original buyer and seller obligated to fulfill the terms and conditions of the contract.
A contract of sale, sales contract, sales order, or contract for sale is a legal contract in which a buyer (or purchaser) purchases assets (goods or property) from a seller (or vendor) for an agreed-upon monetary value (or money equivalent).
It is an evident old practice of exchange that is currently controlled by statute law in many common law countries. See also business law.
In most jurisdictions in the United States and Canada, sales contracts involving products are governed by Article 2 of the Uniform Commercial Code.
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