All assets of an estate have been distributed, except formalisation of of the transfer of the deceased's home has not yet taken place. The property has been rented, should the rent (prior to transfer of title) be treated as income of the beneficiaries or as Estate income? At what point does the administration period end?
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Residue
Until the assets are distributed it's estate income and goes into the residue for disposal just like bank interest received etc.
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To cover your last point first - it doesnt matter who inherits the property, any income derived from any part of the estate belongs to the estate until such time as the transfer of title takes place. Transfer of title of anything left in a Will is not a matter registering it at the land registry etc, but a matter of when the executor(s) actually hand it over.
In the specific scenario you describe however, the transfer of title seems to have been assumed to have taken place and control of the properties handed to the beneficiaries. They have named themselves as the landlors and have spent some of their own money on the property. So, this should be treated just like any other buy to let property with the one difference being that the purchase proce was zero (ie inherited).