The first step is to determine ownership under the laws of the state where the property is located. Ownership rights are determined by the way the title to the property is titled. If the property is held as Joint Tenancy or Joint Tenants With Rights To Survivorship (JTWRS) the propert passes directly to the other owner(s) and is not subject to probate action; if it is held as Tenants-In-Common the share of the property belonging to the deceased is determined by and subject to probate procedure.
If the property is owned jointly, the wife is entitled to 50% of the proceeds.If the property is owned jointly, the wife is entitled to 50% of the proceeds.If the property is owned jointly, the wife is entitled to 50% of the proceeds.If the property is owned jointly, the wife is entitled to 50% of the proceeds.
timeshare
If the property is owned jointly, you can leave your portion of the property or your portion of the ownership to someone.
If it is marital property it is jointly owned and either party can do with it what they like. If it was separate property you are liable for the damages.
When property is owned as joint tenants with the right of survivorship the property is NOT part of the estate of the first joint owner to die.
In Michigan can jointly owned real estate by used to satisfy a judgement against one of the joint owners?
No
Generally, interest in jointly owned real and personal property passes automatically to the surviving owner. Joint bank accounts may pass into the estate if they were made joint only for the purpose of convenience.
It depends on what the will states. If the will states that you are the sole beneficiary of all of the decedent's property, you will receive whatever share the decedent owned of the jointly-owned property. The decedent's share of the property will become your share. If there are other beneficiaries and the division of ownership is not specified in the will, the decedent's share of the jointly-owned property will be divided equally amongst the beneficiaries. If the will states a specific division amongst beneficiaries (e.g. 1/2 interest to John Doe, 1/4 interest to Jane Doe and 1/4 interest to Bob Doe), then the decedent's share of the jointly owned property will be divided amongst the beneficiaries accordingly. But, the quick answer to your question is that just because someone else who is still alive has a share of the decedent's property doesn't mean that the entire property reverts to that alive shareholder. The decedent's interest in the property will go to his or her heirs in the same proportion that the decedent owned the property when he or she was alive.
The surviving spouse becomes the sole owner.
Whatever you owned before the marriage, you keep title to after the divorce. It should not be considered "community property" because it was not purchased jointly during the marriage.
You can only encumber your own interest in the property. You cannot affect the co-tenant's interest in the property without their consent.