Part of Specified Property

What is the legal situation where the testator leaves a particular property to a beneficiary in his will, but by the time the former dies, it there has been a substantial change in its condition?

The beneficiary inherits the property in the condition that it is after the deceased's death , when his inheritance under the will crystallizes, and from the time he makes his will till he dies, the testator is free to do what he wishes with the property, to change it, improve it, or even refrain from doing so.

Can one beneficiary demand that others pay off a mortgage on a property which the testator took on?

No!

If , under a will, a beneficiary is supposed to inherit a specific property but when the testator dies it is not part of his estate, can he get compensation from the other heirs?

No!

What happens to profits on property included in a testator's will and part of his estate, which were received before he died?

Profits received from property until the deceased's death such as rent from real estate go into the estate's account. From the day of his death, they enter the beneficiary's account, unless the testator specified in his will that should enter it on a later date.

Can a beneficiary inherit an option held by the testator in a start-up company which started to produce shares when the deceased died?

Yes - this option can be inherited and the beneficiary will inherit the portion as it was on the day of his death.

What happens if a beneficiary inherits a property tied with a mortgage?

He will inherit it with the impediment and the rest of the heirs will not be obliged to pay it off.

Is a person due to inherit property under a will liable for expenses on it if he has not yet received it?

Not if he has not yet received it and enjoyed profit from it.

What happens to dividends handed out to the testator , as a shareholder, before his death?

Profits received until the death of the testator will pass into the estate’s account, and the beneficiary who is to receive the shares cannot gain from their profits directly.

Can those who gain under the general estate demand from the beneficiary of a specific portion of the deceased's property under a will to participate in covering the estate's debts?

No! There is a separation between general property in the estate and specific property or portion bequeathed to a beneficiary.

Can a beneficiary who inherits a specific item of property under a will demand compensation from the heirs to the general estate for a decrease in its value?

No! Heirs to the general estate do not have to compensate a beneficiary who inherits a specific portion of property for a decline in its value as there is a separation between owners of the general property in the estate and the owners of a portion.

Will a person who was supposed to inherit a specific item of real estate be entitled to the proceeds of its sale instead – if it was actually sold before the deceased died?

No! If the portion bequeathed was not part of the testator's estate when he died, then the 'beneficiary' will not be entitled to anything – neither the property or the proceeds from its sale.

Will a beneficiary of a specific item of real estate be entitled to inherit it if at the time the testator bequeathed it to him, he was not the actual owner, but became so before his death?

Yes! What counts is whether the property belonged to the deceased when he died.