Real Estate Issues Arise In Relation To Prince's Estate
Issues regarding real estate are among those that can come up during probate proceedings. Given the significant emotional and physical value real estate can have, real-estate-related probate matters can get complex and potentially heated. For example, sometimes, a sale of a real estate property that the party managing a deceased’s estate proposes/plans meets objections from one of the deceased’s family members.
This can be seen in some recent news regarding the estate of the musician Prince, who passed away earlier this year.
The party managing the musician’s estate, a trust, recently made a request to a court to sell several different properties the musician owned.
One of these properties was a home one of Prince’s half brothers currently lives in. This half-brother submitted an objection to the proposed sale of the home. In response to the objection, the trust opted to rescind its sale request regarding this particular property.
Of the remaining properties that made the trust’s sale request list, the court granted permission for the trust to put some of them up for sale in the near future. When it comes to the others, the court made future approval of selling them contingent on the trust filing an additional affidavit.
This case is from Minnesota. However, real estate issues can become major one’s in probate matters in all kinds of jurisdictions, including here in Michigan. So, the point from this case that objections sometimes end up coming up in connection to proposed/planned real-estate-related actions by an estate’s administrator is one worth noting when it comes to Michigan probate matters. What happens with real-estate-related objections can have very significant impacts in probate proceedings. So, having skilled legal advice can be key both for personal representatives facing such objections and individuals who wish to make such an objection in relation to the estate of a deceased loved one.
Source: MPR News, “Prince's properties headed to market,” Matt Sepic, Aug. 11, 2016