If a Guardian Sells Property left to a child in a Will does the child lose the property in Florida?
Full Question:
A Guardian has been appointed for my Father who is unable to care for his person or finances. He had made a Will before the guardian was appointed leaving me the farm. The Guardian sold the farm and now my Father has died. Did I just lose the farm even though it was Willed to me? We live in Florida.
02/08/2017 |
Category: Wills and Es... ยป Ademption |
State: Florida |
#31770
Answer:
Under the Florida Probate Code if a guardian has been appointed for a person who has made a Will and the guardian sells the property, the property or a portion of the property is condemned or insurance proceeds are paid, the person who is to receive the property is instead entitled to the proceeds of the sale, condemnation or insurance payments when the Will is probated. This is called nonademption laws. These is one exception to this rule as provided in the statute below.
In Flordia the law provides as follows:
732.606 Nonademption of specific devises in certain cases; sale by guardian of the property; unpaid proceeds of sale, condemnation, or insurance.—
(1) If specifically devised property is sold by a guardian of the property or if a condemnation award or insurance proceeds are paid to a guardian of the property, the specific devisee has the right to a general pecuniary devise equal to the net sale price, the condemnation award, or the insurance proceeds. This subsection does not apply if, subsequent to the sale, condemnation, or casualty, it is adjudicated that the disability of the testator has ceased and the testator survives the adjudication by 1 year. The right of the specific devisee under this subsection is reduced by any right described in subsection (2).
(2) A specific devisee has the right to the remaining specifically devised property and:
(2) A specific devisee has the right to the remaining specifically devised property and:
(a) Any balance of the purchase price owing from a purchaser to the testator at death because of sale of the property plus any security interest.
(b) Any amount of a condemnation award for the taking of the property unpaid at death.
(c) Any proceeds unpaid at death on fire or casualty insurance on the property.
(d) Property owned by the testator at death as a result of foreclosure, or obtained instead of foreclosure, of the security for the specifically devised obligation.
(b) Any amount of a condemnation award for the taking of the property unpaid at death.
(c) Any proceeds unpaid at death on fire or casualty insurance on the property.
(d) Property owned by the testator at death as a result of foreclosure, or obtained instead of foreclosure, of the security for the specifically devised obligation.
