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Yes it is. If one spouse dies the house/property will automatically go to the living spouse according to the Will. If you don't have a Will please have one drawn up. If you aren't leaving money to children, then keep it simple and just leave everything to the surviving spouse. Here is another thought (I just found this out and I live in British Columbia, Canada) both parties should have joint ownership on both vehicles in the family so if one spouse dies the vehicles goes directly to the surviving spouse and there is no red tape to go through. The next time you have your car insurance renewed ask them about this and they'll glide you through it.

Answer/ClarificationYes. Joint ownership of property is an essential estate planning tool. There are two options.

People who are legally married have the benefit of a special tenancy for real property ownership: tenancy by the entirety. In any jurisdiction where TBE is allowed, that is the first choice for joint ownership. In those jurisdictions where TBE is not an option then any couple, married or not, should own as joint tenants with the right of survivorship. That way when one dies the full ownership of the property passes automatically to the Survivor, bypassing probate. That is especially important when there is no will or when the couple is not legally married.

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โˆ™ 2010-11-29 16:31:21
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Q: Is joint ownership of property of husband and wife a good estate planning tool?
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How do you show ownership of property when someone else lives on the property?

Ownership of real property is evidenced by a deed or a probated estate.


What the meaning of estate ownership?

A persons estate is all the property they own both real and personal property.


What type of real estate ownership is the most all-inclusive?

Ownership in fee simple is the highest form of real property ownership.


Can you prove the ownership of your property with out deeds?

Generally, the only other ways to prove ownership of real property is by inheritance from a probated estate or by a court order.Generally, the only other ways to prove ownership of real property is by inheritance from a probated estate or by a court order.Generally, the only other ways to prove ownership of real property is by inheritance from a probated estate or by a court order.Generally, the only other ways to prove ownership of real property is by inheritance from a probated estate or by a court order.


What happens when a property is conveyed by deed to the holder of a life estate?

In that event the full ownership of the property is transferred to the life tenant and the life estate is extinguished by a merger of title.In that event the full ownership of the property is transferred to the life tenant and the life estate is extinguished by a merger of title.In that event the full ownership of the property is transferred to the life tenant and the life estate is extinguished by a merger of title.In that event the full ownership of the property is transferred to the life tenant and the life estate is extinguished by a merger of title.


What is the legal document to prove ownership of property?

Ownership of real property is evidenced by a deed, a certificate of title or by a probated estate.


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 laws effect ownership of real estate from out of state?

The laws of real property and probate in the state where the property is located control ownership.


Does a stepfather have rights to property if mother had a life estate?

No. Mother's life estate is extinguished upon her death. Her husband would have no rights in the property whatsoever.No. Mother's life estate is extinguished upon her death. Her husband would have no rights in the property whatsoever.No. Mother's life estate is extinguished upon her death. Her husband would have no rights in the property whatsoever.No. Mother's life estate is extinguished upon her death. Her husband would have no rights in the property whatsoever.


What type of tax is on the ownership of land?

There are a few different types of tax on the ownership of lands. The tax on the ownership of property is referred to as either property taxes or as real estate taxes.


If the husband is the sole owner of property and he dies does the wife have ownership of the home?

The answer depends on several factors:When the real estate was acquired by the husband- before or after marriageWhether they live in a community property state or a separate property stateThe probate and intestacy laws of the jurisdiction


Can my husband kids claim our property after his death?

State laws vary, and your husband's children may be able to claim a portion of his estate unless he does some estate planning now. All your property and accounts should be held as joint tenants with the right of survivorship. If not, then your husband should have a will drafted by an attorney who specializes in probate and estate planning. If he does neither then his children may be able to claim a portion. You can check the laws of intestacy in your state at the related question link below.


Can a life estate creator and owner change their mind and get the property back?

No. Once you have conveyed your property and retained a life estate the property has a new owner. They would have to convey the property back to you voluntarily for you to regain ownership.


What rights does a husband have to real estate and all other property in Oregon left solely to his wife by her father in an unwitnessed holographic will?

Oregon is not a community property state. The husband is not an heir of his wife's father. The husband has no rights in or to to the real estate.


Do you want to know estate planning tips for selling property?

If you are looking for estate planning tips, the best thing to do is to contact a professional estate planner. If you are looking to enter into the field of estate planning, then you will need to be certified, in addition to a degree in law, finance or accounting.


What has the author W Donald Knight written?

W. Donald Knight has written: 'Structuring foreign investment in U.S. real estate' -- subject(s): Estate planning, Foreign Investments, Foreign ownership, Law and legislation, Real property, Taxation


What is an abeyancy?

An abeyancy is another word for an abeyance, the condition of ownership of real property being undetermined, or a lapse in succession of ownership of estate or title.


What is Ownership in Severalty?

In Real Estate - Ownership of Property by only 1 person. No co-tenants or anything like that. You own it yourself, alone!


How can you plan an estate?

There are attorneys who specialize in estate planning. If you own property estate planning is a good idea. Look for attorneys in your area who have a good reputation or who someone you know has had good service from. Ask friends, family, neighbors and co-workers.There are attorneys who specialize in estate planning. If you own property estate planning is a good idea. Look for attorneys in your area who have a good reputation or who someone you know has had good service from. Ask friends, family, neighbors and co-workers.There are attorneys who specialize in estate planning. If you own property estate planning is a good idea. Look for attorneys in your area who have a good reputation or who someone you know has had good service from. Ask friends, family, neighbors and co-workers.There are attorneys who specialize in estate planning. If you own property estate planning is a good idea. Look for attorneys in your area who have a good reputation or who someone you know has had good service from. Ask friends, family, neighbors and co-workers.


Can you quit claim property to a friend and does that property become theirs?

Yes. That is the purpose of a quitclaim deed, to transfer the ownership of real estate.


Can widow's personal property be seized by heirs of her husband?

No. A widow's personal property is not part of her husband's estate.


Ownership life cycle in real estate mean?

Ownership Life Cycle is the period during which one person or group owns a real estate asset. it typically has three phrases - acquisition: organization of the venture and development or purchase of the property - operation: property management and management of the company which owns the real estate - Disposal or termination: sale of the property and dissolution of the company, exchange of property, foreclosure, gifts etc


How can a person deed their part of some land to their children but have a life estate to the property?

They can consult an attorney who specializes in real estate law, probate law or estate planning. The attorney can review their situation and explain both their options and the legal consequences of transferring property while retaining a life estate.They can consult an attorney who specializes in real estate law, probate law or estate planning. The attorney can review their situation and explain both their options and the legal consequences of transferring property while retaining a life estate.They can consult an attorney who specializes in real estate law, probate law or estate planning. The attorney can review their situation and explain both their options and the legal consequences of transferring property while retaining a life estate.They can consult an attorney who specializes in real estate law, probate law or estate planning. The attorney can review their situation and explain both their options and the legal consequences of transferring property while retaining a life estate.


What is the point of estates?

==One Answer== An estate is all the property both real and personal that a person leaves after death. The point of classifying property as an estate at death is for the purpose of passing ownership of the the property to the next of kin or legal heirs of the decedent.


Can you be removed from the property of my deceased husband's life estate?

Yes. If your husband was the sole owner of the life estate then it was extinguished when he died.