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If two people are on a home deed and one passes away what happens to that person's interest in the home?
Wiki User
∙ 14y ago
The answer depends on the deed by which the two acquired their interest in the property. If the property was acquired as tenants by the entirety or as joint tenants with the right of survivorship, the Survivor automatically owns the property. If the property was acquired as tenants in common, the interest of the decedent will pass to her heirs at law under the laws of intestacy and her estate must be probated providing she didn't name a beneficiary by will. If there was a will and a named beneficiary the estate must be probated for title to pass to the beneficiary.
Wiki User
∙ 14y ago
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That is possible depending on how the property is held. If it is held by two people by survivorship one owner cannot leave their interest by will. When one dies their interest passes automatically to the survivor.That is possible depending on how the property is held. If it is held by two people by survivorship one owner cannot leave their interest by will. When one dies their interest passes automatically to the survivor.That is possible depending on how the property is held. If it is held by two people by survivorship one owner cannot leave their interest by will. When one dies their interest passes automatically to the survivor.That is possible depending on how the property is held. If it is held by two people by survivorship one owner cannot leave their interest by will. When one dies their interest passes automatically to the survivor.
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The full ownership of the property automatically passes to the survivor. There are no tax implications.Think of it this way: if two people own property in a survivorship tenancy and one dies the decedent's interest in the property disappears and the property is the sole property of the survivor.The full ownership of the property automatically passes to the survivor. There are no tax implications.Think of it this way: if two people own property in a survivorship tenancy and one dies the decedent's interest in the property disappears and the property is the sole property of the survivor.The full ownership of the property automatically passes to the survivor. There are no tax implications.Think of it this way: if two people own property in a survivorship tenancy and one dies the decedent's interest in the property disappears and the property is the sole property of the survivor.The full ownership of the property automatically passes to the survivor. There are no tax implications.Think of it this way: if two people own property in a survivorship tenancy and one dies the decedent's interest in the property disappears and the property is the sole property of the survivor.
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