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Washington Revised Code Title 11. Probate and Trust Law § 11.08.205. Lease, sublease, or rental of escheated real property--Authorized--Expenses--Distribution of proceeds

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) The department of natural resources shall have the authority to lease real property from the administrator of an estate being probated under the escheat provisions, RCW 11.08.140 to 11.08.280.

(2) The department of natural resources shall have the authority to sublease or rent the real property, it has leased under subsection (1) of this section, during the period that the real property is under the authority of the court appointed administrator.

(3) Any moneys gained by the department of natural resources from leases or rentals shall be credited to an escheat reserve account bearing the name of the estate.

(4) The department of natural resources shall have the authority to expend moneys to preserve and maintain the real property during the probate period.

(5) Any expenses by the department of natural resources in preserving or maintaining the real property may be paid as follows:

(a) First, the expenses shall be charged to the escheat reserve account bearing the name of the estate; and

(b) Second, if the expenses exceed the escheat reserve account, then the expenses shall be paid as follows:

(i) If the land is distributed to the state by the administrator, the expenses shall be paid out of the sale price of the land as later sold by the department of natural resources, or shall be paid out of the general fund if the land is held for use by the state; or

(ii) If the land is distributed to the heirs by the administrator, the expenses shall be borne by the estate.

(6) Upon the final distribution of the real property, the escheat reserve account shall be closed out as follows:

(a) If the real property is distributed to the state, the balance of the account shall be paid into the permanent common school fund of the state; or

(b) If the real property is distributed to the heirs, the balance of the account shall be paid to the estate.

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Cite this article: FindLaw.com - Washington Revised Code Title 11. Probate and Trust Law § 11.08.205. Lease, sublease, or rental of escheated real property--Authorized--Expenses--Distribution of proceeds - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-11-probate-and-trust-law/wa-rev-code-11-08-205/

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