How are tangible personal property and real estate handled in an intestate succession?

Tangible personal property and real estate are handled differently in an intestate succession in New York. First, tangible personal property refers to items such as furniture, cars, and jewelry that have value. If the deceased person did not leave a will, then the property will be distributed among the heirs according to New York’s intestate succession laws. This means that the surviving spouse will receive the first $50,000 of the tangible personal property and one-third of the rest. The children will receive the remainder, split equally among them. When it comes to real estate, the law is slightly different. If the deceased person did not leave a will, then the surviving spouse, children, and other family members will have the right to receive equal shares of the real estate. However, if the deceased person left a will and wanted their real estate to be distributed differently, then that will take precedence. In both cases, the heirs must agree on how the real estate should be distributed before it can be sold or transferred. If they cannot agree, then the court will have to intervene and make a decision on the distribution of the property.

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How are tangible personal property and real estate handled in an intestate succession?

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