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Generally, for purposes of divorce most property acquired during a marriage becomes marital property in Massachusetts and if the divorcing couple cannot agree on a fair distribution the court will divide it equally. Inherited property is excepted. real estate that is in both names is considered marital property. If divorce is not part of the picture then joint ownership with the right of survivorship must be recited in the deed. You need to consult with an attorney if you need to make a definite determination
What else can I help you with?
What is joint marital property?
It means it is all the property that belongs to a married couple only.
Is property acquired after separation in Pennsylvania considered marital property?
In the state of Pennsylvania, property that is acquired after legal separation is not considered property purchased during the marriage. The only time that property is considered joint after legal separation is if joint marital funds are used.
Is your 401K your property or joint property in divorce in Minnesota?
Generally, your 401K is considered marital property in Minnesota. You can read more about marital assets and divorce in Minnesota at the related link.Generally, your 401K is considered marital property in Minnesota. You can read more about marital assets and divorce in Minnesota at the related link.Generally, your 401K is considered marital property in Minnesota. You can read more about marital assets and divorce in Minnesota at the related link.Generally, your 401K is considered marital property in Minnesota. You can read more about marital assets and divorce in Minnesota at the related link.
Is a house considered joint marital property in NY if one name was never put on the home loan papers or deed?
Yes, if the property was acquired during the course of the marriage.
What happens where a testator owns a property jointly with someone else?
Property held in a joint tenancy does not become part of a probate estate. When the first joint owner dies their interest in the property is terminated and the surviving owner becomes the sole owner.Property held in a joint tenancy does not become part of a probate estate. When the first joint owner dies their interest in the property is terminated and the surviving owner becomes the sole owner.Property held in a joint tenancy does not become part of a probate estate. When the first joint owner dies their interest in the property is terminated and the surviving owner becomes the sole owner.Property held in a joint tenancy does not become part of a probate estate. When the first joint owner dies their interest in the property is terminated and the surviving owner becomes the sole owner.
Is a house considered joint marital property in TeXAS if one name was never put on the home loan papers or deed?
the mortgage would not valid
Are gifts from parent to adult child part of marital property?
Yes and No. Yes, if the money is commingled with other marital money - i.e. deposited into a joint checking/savings account. No, if the money was deposited into an individual account of only the specific spousal recipient and no additional marital funds are ever added to that account. However, should portions of the received money ever be used to pay for a portion of or a total expense (i.e. kitchen remodel, down-payment on a car, etc) then that item or remodel cost could be deemed to have become marital property.
If you are a personal representative of an estate does it give the personal representative a right to move on the property if owned by a joint owner?
No. Ownership of joint property passes automatically to the surviving joint tenant and does not become part of a decedent's estate.
Can your husband use your property as collateral if his name is not on the deed?
Your husband cannot use property as collateral if his name is not on the deed without written permission of the property owner. Some lending institutions will not allow this, even if the law does. In some cases, marital property is automatically considered joint property.
I paid off my house before I got married, now that I'm married if I take an equity loan does my property now become a marital asset?
The answer may vary depending on the laws of your specific state or country, but in general, taking an equity loan after marriage could result in the property becoming a marital asset. Even if the home was purchased before marriage and fully paid off, if the equity loan is taken out after marriage and both spouses are listed on the loan or the property title, it may be considered a joint marital asset. It's best to consult with a legal professional in your area who can advise you on the specific laws and regulations that apply to your situation.
When you are in an auto accident can your spouse be sued also and all properties attached?
Yes. If the couple live in a community property state both might be subject to legal action. All property held by a marital couple in a community property state would be subject to judgment attachment. In other states what action could be taken against joint marital property and/or assets would depend upon how the property is titled and the laws of the resident state or the state where the accident occurred.
What is meant by third party joint tenants?
Your phrase is not a legal term. However, you may be referring to a situation where a property owner desires to transfer her property to herself and another as joint tenants. In Massachusetts the owner now has a statutory right to execute a deed granting the property to herself and another as joint tenants. In many other states a straw must be used. By that method title to the property is conveyed to a third party thereby severing the interest of the owner. Title to the property is immediately conveyed by that third party back to the two who desire to own the property as joint tenants.
