Maine Executor's Deed of Distribution
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How to fill out Executor's Deed Of Distribution?
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FAQ
The personal representative's (PR) deed of distribution for an intestate estate, under 33 M.R.S. 775-3-A, is a fiduciary instrument used to convey real property from an estate to a successor in interest pursuant to Maine's laws of descent.
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed)
In Maine, executor fees are not explicitly stated by law. Instead, the state allows for "reasonable" compensation, which is determined on a case-by-case basis. This ambiguity can be both a benefit and a drawback, depending on the complexity of the estate and the amount of work required by the executor.
Deeds must have a declaration of value form (also called transfer tax form) and any transfer tax if it is due. A side margin of ¾ inch on all pages with the top margin of 1st page of 1 ¾ inches. No punched holes or writing in any of the margins. All subsequent pages must have a 1-inch top margin.
Essential Elements of a Valid Deed Use of the proper statutory form of deed. Competent parties: grantor and grantee. Words of grant or operative words of conveyance. Sufficient description of the property to be conveyed. Proper execution. Delivery and acceptance.
Maine deeds must identify by name the current property owner (the grantor) transferring real estate. A deed must also state the new owner's name and address?including street and number, municipality, and state. Deeds customarily include the marital status of any parties who are natural persons.
The length of this process can vary from a few weeks to several months, depending on the size and complexity of the estate. In Maine, the law gives the executor up to three months from the date of their appointment to complete this inventory and submit it to the court.
Premises Clause. Also known as the granting clause, is the only legally necessary clause required in a deed. ... Habendum Clause. Specifies the legal rights being given. Reddendum Clause. ... Warrants in deeds. ... General Warranty Deed. ... Warrant of Seisin. ... Warrant of quiet enjoyment. ... Warranty Forever.
