This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Personal Property Form For Will In Massachusetts
Instant download
Description
Free preview
Form popularity
FAQ
In Massachusetts, when certain assets must pass through the probate process, the court appoints a Personal Representative (formerly referred to as an executor) to oversee the estate. If you're in the process of creating a will, it's essential to designate this individual and even consider naming an alternate.
In Massachusetts, there are several requirements for a Will to be valid: The will must be in writing. The will must be signed and dated by the Testator (the person making the will). The will must be signed by two disinterested witnesses. The person making the will must have the mental capacity to do so.
You normally need not get very specific, unless an object is particularly valuable. It is enough to list the location of the property: "all household furnishings and possessions in the apartment at 55 Drury Lane."
A personal representative shall have the duty to settle and distribute the estate of the decedent in ance with the terms of any probated and effective will and this code, and as expeditiously and efficiently as is consistent with the best interests of the estate.
In reality, there isn't a significant difference between the two, and the terms can be used interchangeably in many cases. The primary difference lies in which state has jurisdiction over the probate. Some states use the term Personal Representative, and some states use the term Executor.
A qualified person with legal priority has the right to be appointed as personal representative of the estate over anyone else. If the decedent died with a will — The person with legal priority is the person named in the will to serve as personal representative or executor.
For example, the personal representative has the power to acquire or dispose of an asset and sell, mortgage, or lease any real or personal property of the estate.
Yes, online Wills are legal in Massachusetts. As long as you are 18 years or older, and are of sound mind, you can make a Will online that will be recognized as valid in a Massachusetts probate court.
Personal use property is used for personal enjoyment as opposed to business or investment purposes. These may include personally-owned cars, homes, appliances, apparel, food items, and so on.
Personal property generally includes tangible items that are not firmly attached to land or buildings and are not specially designed for or of such a size and bulk to be considered part of the real estate. This includes, for example, merchandise, furniture, machinery, tools, animals and equipment.