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Who is entitled to the insurance proceeds for the total destruction of the property given as a life estate?
Wiki User
∙ 16y ago
The fee owner unless there is some other signed agreement.
Wiki User
∙ 16y 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.
Texas is a community property state. Your husband named his sons as beneficiaries on his life insurance policy. Is the surviving spouse entitled to any portion of the proceeds?
Life insurance is a complex issue in community property states. Even if your husband has named beneficiaries, you may be entitled to an interest in the proceeds. See the link provided below for a very informative publication that you can read in its entirety. There is a section regarding beneficiaries other than the spouse.
Is a separated spouse entitled to proceeds resulting from the sale of real estate by the other spouse in WV?
It depends upon who owns the property. If both names are on the title then each is legally entitled to 50% of the net proceeds. If the property is in the name of the "other spouse" alone then they have no legal obligation to share the proceeds. Of course, that might change if the couple was in the process of a divorce and the divorce had been filed.
Can you sell property and still have insurance on the property and collect on it?
The insurance policy will be transferred in the name of the new property owner and will be entitled to all benefits against the said policy.
How does preimum differ from proceeds in insurance?
The term "premium" relates to the incremental cost of buying and maintaining the insurance on the person or property insured. "Proceeds" relates to the benefits paid by the insurer upon the happening of the event that was insured against (death, disability, damage to property, etc.).
If a spouse did not contribute to the upkeep or purchase of the property are they entitled to half of the property?
No, the house is in the name of the one spouse. Which is why you MUST make sure you put both names on a deed.
If my boyfriend is on the deed but not the mortgage what rights does he have to the house?
He owns an interest in the property but he is not responsible for paying for it. He got a great deal. If the property is sold he will be entitled to half the proceeds after the mortgage is paid off.
Is homeowner entitled to any of the insurance check when repairs are being done on a damaged property?
Of course not. Insurance is supposed to put you back to the same position you were in before the damage occurred. Your not "entitled" to make money on a claim. If your property was repaired the contract was fulfilled.
Does an executor have the right to a fee after probate on the sale of a property?
Yes, an executor is entitled to a fee for their services after probate, including the sale of a property. The amount of the fee can vary depending on the laws of the jurisdiction or the terms of the will, but typically, it is a percentage of the estate's value or the proceeds from the property sale.
Can a spouse drop another spouse from home-owner's insurance?
No. Homeowner's insurance insures the property against loss not the individuals. If both own the property the proceeds of any claim will be paid in the form of a check made payable to the legal owners of the property.
Can you remove your spouses name from a home insurance policy without there consent or signature?
No. If the property suffers any damages the proceeds will be paid over to the owners of the property. You would be committing fraud if your spouse is an owner.No. If the property suffers any damages the proceeds will be paid over to the owners of the property. You would be committing fraud if your spouse is an owner.No. If the property suffers any damages the proceeds will be paid over to the owners of the property. You would be committing fraud if your spouse is an owner.No. If the property suffers any damages the proceeds will be paid over to the owners of the property. You would be committing fraud if your spouse is an owner.
If you pay for your group life insurance through your employer on a pretax basis and name your husband as beneficiary are the proceeds taxable because you paid for the benefit with pretax dollars?
Insurance proceeds are non-taxable funds no matter how the premiums are paid. In Michigan, insurance proceeds received by a spouse,and only a spouse, are also excluded from household income for the Michigan Homestead Property Tax Credit.
