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timeshare
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∙ 12y ago
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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.
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 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 if you destroy property during the marriage?
If it is marital property it is jointly owned and either party can do with it what they like. If it was separate property you are liable for the damages.
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.
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?
Can a judgment creditor foreclose on property jointly owned if only one person was named on the judgment?
No
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.
Is the beneficiary of a will entitled to a share of the decedent's jointly-owned property?
It depends on what the will states. If the will states that you are the sole beneficiary of all of the decedent's property, you will receive whatever share the decedent owned of the jointly-owned property. The decedent's share of the property will become your share. If there are other beneficiaries and the division of ownership is not specified in the will, the decedent's share of the jointly-owned property will be divided equally amongst the beneficiaries. If the will states a specific division amongst beneficiaries (e.g. 1/2 interest to John Doe, 1/4 interest to Jane Doe and 1/4 interest to Bob Doe), then the decedent's share of the jointly owned property will be divided amongst the beneficiaries accordingly. But, the quick answer to your question is that just because someone else who is still alive has a share of the decedent's property doesn't mean that the entire property reverts to that alive shareholder. The decedent's interest in the property will go to his or her heirs in the same proportion that the decedent owned the property when he or she was alive.
When one spouse dies what happens to jointly owned property?
The surviving spouse becomes the sole owner.
Can I refinance a jointly owned home without the consent or signature of the other person who jointly owns the property and is also on the deed?
You can only encumber your own interest in the property. You cannot affect the co-tenant's interest in the property without their consent.
Can a property lien be placed on jointly owned property in PA?
Yes, but it will only affect the half interest of the co-owner named in the judgment.
