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Can you leave a life estate if you owned the property jointly?
Wiki User
∙ 13y ago
No. At the moment of death your interest disappears and the surviving joint tenant becomes the sole owner. You have nothing to leave to anyone else.
Wiki User
∙ 13y ago
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In pa when the house is owned jointly it is part of the estate?
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.
Can you leave property to someone in a will if you don't own all the property?
No, you cannot leave property to someone in a will if you do not own it. A will can only distribute assets that belong to the person creating the will at the time of their death.
What percentage of the proceeds is due to the wife when a property is sold?
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.
When one spouse has a judgment enter on them can they levy property that is jointly owned by the other spouse?
In Michigan can jointly owned real estate by used to satisfy a judgement against one of the joint owners?
Is a beneficiary of a will entitled to a share of the decedent's jointly-owned property?
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.
Can your husband do estate planning without your signature?
Generally, he can do his own estate plan without your consent. He can create a plan for the distribution of his own estate but he cannot include your interest in any property nor can he add to the plan any property in your sole ownership. He cannot cut off any survivorship rights you have in jointly owned property.Generally, he can do his own estate plan without your consent. He can create a plan for the distribution of his own estate but he cannot include your interest in any property nor can he add to the plan any property in your sole ownership. He cannot cut off any survivorship rights you have in jointly owned property.Generally, he can do his own estate plan without your consent. He can create a plan for the distribution of his own estate but he cannot include your interest in any property nor can he add to the plan any property in your sole ownership. He cannot cut off any survivorship rights you have in jointly owned property.Generally, he can do his own estate plan without your consent. He can create a plan for the distribution of his own estate but he cannot include your interest in any property nor can he add to the plan any property in your sole ownership. He cannot cut off any survivorship rights you have in jointly owned property.
What is jointly owned holiday property called?
timeshare
What if an executrix rejects an offer on a property jointly owned without knowledge or consent of one heir?
That is the option of the executrix. They don't have to get permission from every heir to manage the estate.
Is an estate accounting required even if assets were held in joint tenancy and spouse is only heir?
If all property was jointly owned then ownership automatically passed to the surviving spouse. There is no need to open an estate proceeding.
Can the IRS seize a jointly owned vehicle?
Yes, the IRS can seize a jointly owned vehicle if one of the co-owners owes taxes. They have the authority to enforce tax collection by levying assets, including jointly owned property.
Can an owner sell a property that is real estate owned?
Real Estate Owned, or REO, is a class of property that is owned by a lender. The lender can sell the property.Real Estate Owned, or REO, is a class of property that is owned by a lender. The lender can sell the property.Real Estate Owned, or REO, is a class of property that is owned by a lender. The lender can sell the property.Real Estate Owned, or REO, is a class of property that is owned by a lender. The lender can sell the property.
My mother refuses to give me the life estate property left to us by my grandparents can she do this?
If the property was left to both you and your mother, she cannot unilaterally refuse to give you your share. You may need to seek legal advice to enforce your rights to the property as per the terms of the will or trust that left it to you both.
