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Can a person having an undivided one half interest in real estate sell their half interest?
Yes, with the exception of property owned as tenants by the entirety. The right to transfer an interest in property owned as a T by E varies in different jurisdictions and may create a complicated situation for the buyer where an interest can be transferred.
The idea of 'undivided' here means that each co-owner has the right to the use and possession of the whole property. That right to the use and possession of the whole property is what we call an undivided interest. If three sisters purchase a beach house together then each has the right to the use and possession of the property.
What else can I help you with?
Life estate does your spouse have interest in it?
A life estate is based on a specific person's life. If they are not named in the life estate, they have no interest. They can claim the right to use the life estate as long as the individual is still living.
When a person dies in VA who starts probate proceedings?
Anyone with an interest in the estate, heirs and those that are debtors of the estate can apply to open an estate.
When a person dies intestate who files for probate?
Any one with an interest in the estate. Even a debtor can file to have an estate opened.
Can a remaindermen sell life estate property in South Carolina?
A person with a remainder interest can sell their interest. However, the property remains subject to the life estate until the life tenant dies or releases their life estate in writing.
Can one person change a deed and the other person sign it with out knowing what they did because they did not tell them that they did it?
no. One co-owner of real estate can only affect their own interest in the property.no. One co-owner of real estate can only affect their own interest in the property.no. One co-owner of real estate can only affect their own interest in the property.no. One co-owner of real estate can only affect their own interest in the property.
What is a person known as having interest in UFOs?
UFOlogists.
Who is Youngest person to own real estate?
There are no exact statistics to answer your question but infants can inherit an interest in real estate through probate. That is not unusual.
Can you sell your interest in a house that is lived in by a person covered under a life estate?
I bet you can, as long as the buyer understands that "your interest" includes the honoring of the life estate. You can sell what's yours, and not what isn't, obviously.
What is a bare life estate?
Can the remainder of a bare life estate transfers their remainder interest to another person while the life tenant is still alive.
How can you act as your own real estate agent without a broker?
If a person has an active real estate license, they also have a broker. Having a real estate license without placing it with a brokerage means the license is inactive. In selling his/her home, a person with an inactive license would have to disclose having a real estate license, and then do a For Sale By Owner. A person with no real estate license can sell a home as a FSBO.
Can a person own a property without any undivided share of land?
No. When more than one person owns land they each own an undivided interest. That means they each have the right to the use and possession of the whole property even though they own a half interest. A sole owner would, of course, have the right to the use and possession of the property. They would acquire their interest by deed or by inheritance. Property ownership is by definition the right to the use and possession, and the right to leave the land to your heirs. If you do not have a will the property will pass to your heirs-at-law according to law. A person cannot own real property unless they have acquired an interest by deed or inheritance.
What is Leasing interest?
leasing interest is having a contract with another person which has a time limit and this means that the person can be in charge until that contract ends.
