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Generally, they can transfer their own interest in the property but not the interest of the other co-owner.
Generally, they can transfer their own interest in the property but not the interest of the other co-owner.
Generally, they can transfer their own interest in the property but not the interest of the other co-owner.
Generally, they can transfer their own interest in the property but not the interest of the other co-owner.
What else can I help you with?
How can you stop a joint account holder accessing the deceased persons funds?
You can't. The funds are the property of the surviving joint owner.You can't. The funds are the property of the surviving joint owner.You can't. The funds are the property of the surviving joint owner.You can't. The funds are the property of the surviving joint owner.
What is the status of the joint holder in a flat in a cooperative housing society?
joint holder of shares of the society if his name stand second in share crtfcte.and also his name is in the flat purchase deed HE WILL CALLED A JOINT MEMBER of the socty.in this way he have property rights and ownership rights jointly with his co owner and first member of the society.In this case they both have equal rights on property and as per transfer of property law any co owner can sell or gift his shares to any one of his choice with conest of his other co owner.
Is a wife who is not a joint account holder responsible for her husband's credit card debt in Illinois?
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
What happens to a mortgage loan when the sole loan holder dies and the property is titled Joint tenants with full rights of suvivorship?
The mortgage obligation remains on the property. If the holder of the mortgage dies then her heirs own the mortgage.
Will credit card companies go after a cardholder's live-in partner for payment when the cardholder can't make his payments?
Only if the person were a joint account holder. The account holder is the only person responsible for the debt (exception for married couples in community property states). However, if the parties own joint property, it is possible for a lien to be placed against the debtors share of that property.
Can a co-independent executor lease a property by themselves?
I am a joint executor of a property that has been left to me and my sister in our mothers will. Are we qualified to rent out this property on lease, without the need to transfer ownership.
When the surviving joint tenant dies is the property subject to probate?
When a surviving joint tenant dies, the property typically passes directly to the remaining joint tenant(s) through the right of survivorship, bypassing probate. This means that the property does not go through the probate process, allowing for a quicker and more efficient transfer of ownership. However, if the last surviving joint tenant dies, the property may then be subject to probate as part of their estate.
What are the advantages of holding property as joint tenants with survivorship rather than as tenants in common?
Holding property as joint tenants with survivorship offers the advantage of automatic transfer of ownership to the surviving joint tenant upon the death of the other owner. This avoids the property going through probate and ensures a smooth transfer of ownership. In contrast, tenants in common do not have automatic rights of survivorship, which can lead to complications and potential disputes over ownership after one owner's death.
If a Joint Tenant has the mortgage in his name and the other joint tenant defaults on his home equity loans what are the legal ramifications to the mortgage holder?
This sounds like a real mess. It sounds like two joint tenants own a piece of property in common with one having the mortgage in his name. The other joint tenant has a piece of property that has a home equity loan about to go into default. In one state the joint tenant with the home equity in default would lose that piece of property. It would not affect the piece of property he or she owned with a different person.
What is the difference between transfer of lien and release of lien?
Release is just that -- No other party has interest or claim to property vs. Transfer which just changes the name of the lien holder and does not Release. hope this helps
As a joint tenant how do you transfer property to your name after your spouse dies?
When your spouse died the property automatically became your absolute property. That is the purpose of creating a joint tenancy in a deed. All you need to do is record a certified copy of the death certificate in the land records to clear the title and inform the world the other joint tenant has died. Operation of law transfers full title to you.
What is meant by third party joint tenants?
Your phrase is not a legal term. However, you may be referring to a situation where a property owner desires to transfer her property to herself and another as joint tenants. In Massachusetts the owner now has a statutory right to execute a deed granting the property to herself and another as joint tenants. In many other states a straw must be used. By that method title to the property is conveyed to a third party thereby severing the interest of the owner. Title to the property is immediately conveyed by that third party back to the two who desire to own the property as joint tenants.
