answersLogoWhite

0


Top Answer
User Avatar
Wiki User
Answered 2007-06-25 17:13:10

The way the property is titled determines who takes ownership. If the property is titled as Joint Tenants or Joint Tenants With Right of Survivorship, the surviving person(s) named on the deed receive the entire property and it is not subject to probate distribution. If the property is titled as Tenants-In-Common, it is subject to probate distribution as required under the laws of the state in which the property is located.

001
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0
User Avatar

Your Answer

Loading...

Still have questions?

Related Questions

Does your foreskin heals after when it rips?

yes. this happens occasionally, but it will heal without leaving a mark.


Why is your brother obsesed with Halo 3?

Because its the only way he can be somewhat social without ever leaving the house.


If a brother and sister owed land together and the brother died without leaving a will and they have other siblings would the sister on the deed get the property The brother never married.?

The answer depends on how the land was titled. If sister and brother acquired the land as Joint Tenants With the Right of Survivorship then brother's interest would pass automatically to sister upon his death. If the land was acquired as Tenants in Common then brother's half interest would pass to his parents (assuming he has no children). If his parents are deceased then his half interest would be shared by his siblings, including his co-owner sister.


What will happen if spouse dies leaving a will and a joint tenancy with right of survivorship?

The Joint Tenancy gives the surviving spouse ownership of the house without having to pay inheritance tax and other things. The items in the Will, have to go through Probate and be distributed to the beneficiaries.


What happens when a joint account is being used after one of the account holders has died?

It usually depends whether or not it is a joint account with right of survivorship. A joint account which requires the signature of only one of the account holders is usually one with right of survivorship. One where both are required to sign does not usually have right of survivorship. Generally speaking, if it is an account with right of survivorship, things simply continue on as they did before the death of one of the account holders. Without right of survivorship, the account is usually frozen until after probate. But much depends on the actual wording of the account agreement and the practices of the financial institution. There are no clear and definitive specific answers to your general question.


What can 7 and 16 go into without leaving a remainder?

They can go into 112 without leaving a remainder.


How do you explain what is without survivorship?

The insects with pesticide-resistant traits survived and reproduced. do study island u scrub


Can someone transfer a survivorship deed without consent of the other party?

A joint-tenant-with-the-right-of-survivorship may convey their interest by deed during life and break the joint tenancy. They could only convey their one-half interest and they could do so without the consent of the co-owner.


What happens to alcohol when it is heated?

When alcohol is heated and boiled, the alcohol will evaporate, leaving you with a liquid which has a concentrated taste of the drink, but without the alcoholic content.


What can be divided by a number without leaving a denominator?

Any whole number can be divided by 1 without leaving a remainder.


Numbers that can go into 34 without leaving a remainder?

The numbers that can go into 34 without leaving a remainder are 2 and 17.


Is it possible to be in the military without leaving the country?

yes you can be in the military with out leaving the country


What preposition is the opposite of with?

The preposition "without" can be the opposite of "with" as in the examples: He went with his brother/He went without his brother.


What happens without a will?

When a person who owns any property dies intestate, without leaving a will, the property passes to the next of kin according to the state laws of intestacy. You can check out the laws in your state at the link below.


Why would you create a tenancy by the entirety?

A tenancy by the entirety provides the maximum protectionthat can be acquired by deed. A tenancy by the entirety is a joint tenancy reserved for legally married couples that protects the property from being seized and sold by a creditor of one of the parties. The survivorship rights of either party cannot be severed.In most jurisdictions one party cannot sell or mortgage their interest without the consent of the other party. In certain states (Massachusetts and New York are two examples) there is no law against one tenant by the entirety conveying their interest. However, their deed cannot defeat the survivorship interest of the other tenant by the entirety and a peculiar situation is created.Suppose a husband conveyed his interest to his brother. The husband no longer owns the property. The brother is now taking the husband's place in the unseverable survivorship tenancy. If the husband dies, the brother is out of luck and the brother loses his interest in the property. The wife gets it all. If the wife dies the brother gets it all.


How do you change your clothes in zwinky with out leaving a room?

You can't change them without leaving a room.


What number can be divided in 46 without leaving a remainder?

46 can be divided by these numbers without leaving a remainder: 1 2 23 and 46.


What happens to the property of a person who dies without leaving a will?

The estate of a person who dies intestate (without a will) is handled in accordance to the state's probate laws pertaining to the payment of debts and the exemption and distribution of assets by prescribed succession.


Give reason napthalene balls disappear with time without leaving any solid?

Naphthalene balls disappear with time without leaving any solid, because naphthalene balls sublime and directly changes into vapor state without leaving any solid.


Can one owner of property owned by a survivorship deed sell their interest to someone else if the other party is still alive?

It depends on the details and the laws in your jurisdiction. There are several possible scenarios and survivorship deeds can be for a joint tenancy or a tenancy by the entiretywhich is reserved for legally married people. TBEs are not available in all jurisdictions.If two unmarried people own property as joint tenants, generally, one can sell their own interest breaking the tenancy. They can sell a 50% interest.If two people are married and own property as joint tenants, in certain jurisdictions one cannot sell their interest without the consent of the other.In most states one tenant by the entirety cannot convey their interest in the property.However, in certain states (Massachusetts and New York are two examples) there is no law against one tenant by the entirety conveying their interest. However, their deed cannot defeat the survivorship interest of the other tenant by the entirety and a peculiar situation is created. Suppose a husband conveyed his interest to his brother. The husband no longer owns the property. The brother is now taking the husband's place in the unseverable survivorship tenancy. If the husband dies, the brother is out of luck and the brother loses his interest in the property. The wife gets it all. If the wife dies the brother gets it all.If both owners in a survivorship deed want to sell the property there are no restrictions as long as both sign the deed.You should consult with an attorney who can review your situation and explain the rules in your jurisdiction.


Can your arm be broken without you knowing it?

Yes it is possible it happens all the tie it depends what sort of break or fracture it is, it took my brother a week to find out he had broken it.


How does cheddar cheese go bad?

by leaving it out of the fridge, or leaving it in the fridge without plastic wrap around it


Is there a drawing of the ark leaving without the unicorns?

No there were no unicorns.


What pierces your ears without leaving holes?

Love.


How do you beat your wife without leaving bruises?

Shoot her