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If parents sold an undivided interest in property to a son for a fair market value and the parents decide to sell can the son be forced to sell?
If you have an undivided interest in property you cannot be forced to sell by the co-owners. Only a court can force a sale. Your parents would need to petition the court to partition the property. The court would divide the property if possible. If not possible then the property would be sold and the proceeds, after legal costs, would be divided amongst the co-tenants. A partition proceeding can be costly. However, your parents could sell their interest in the property to a third party who would then become your co-tenant in common.
What else can I help you with?
Does joint ownership mean equal ownership?
In the United States, there are different forms of co-ownership of real property: tenancy by the entirety, joint tenancy with the right of survivorship and tenancy in common.Tenancy by the entirety is a type of joint tenancy reserved for married people only and each party has an equal interest.One of the legal requirements of creating a joint tenancy with the right of survivorship is that both parties must have an equal interest. However, joint tenants do not have to be married.Two people who decide to own property together as tenants in common each own a half interest unless they set up another arrangement in the deed such as a 60-40 split.One similar aspect of any type of joint or common ownership is that each owner has the right to the use and possession of the whole property. For example, if A owns a 70 percent undivided interest and B owns a 30 percent undivided interest, B has the right to the use and possession of the whole property.
Does equal ownership mean joint ownership?
In the United States, there are different forms of co-ownership of real property: tenancy by the entirety, joint tenancy with the right of survivorship and tenancy in common.Tenancy by the entirety is a type of joint tenancy reserved for married people only and each party has an equal interest.One of the legal requirements of creating a joint tenancy with the right of survivorship is that both parties must have an equal interest. However, joint tenants do not have to be married.Two people who decide to own property together as tenants in common each own a half interest unless they set up another arrangement in the deed such as a 60-40 split.One similar aspect of any type of joint or common ownership is that each owner has the right to the use and possession of the whole property. For example, if A owns a 70 percent undivided interest and B owns a 30 percent undivided interest, B has the right to the use and possession of the whole property.
What is joint tenecy and tenecy common?
Joint Tenancy is a type of ownership of real or Personal Property by two or more persons in which each owns an undivided interest in the whole. This has a right to surviviorship where by the co-tenant will automatically inherit the property if the other passes. The benefits of holding a property as tenancy in common come into play when two or more individuals buy a piece of real estate, but each person contributes a different amount of money. In this designation, each party to the transaction holds a fiscally apportioned interest in the property, not a 100% unlimited right to access. You should have a will in place to decide what you want done with your property. If you don't. the other party can easily get the property.
Which is good to buy a house - shall i go for bank loan to buy a house or with my money?
You should figure out what you would pay in interest if you borrowed the money to purchase the property. Then decide why you would want to donate that amount to the bank if you have enough cash to buy.You should figure out what you would pay in interest if you borrowed the money to purchase the property. Then decide why you would want to donate that amount to the bank if you have enough cash to buy.You should figure out what you would pay in interest if you borrowed the money to purchase the property. Then decide why you would want to donate that amount to the bank if you have enough cash to buy.You should figure out what you would pay in interest if you borrowed the money to purchase the property. Then decide why you would want to donate that amount to the bank if you have enough cash to buy.
Do children have rights to parents property when one of them is still alive?
In most cases, children do not have an automatic right to their parents' property while the parents are still alive. Parents have the right to decide how they want to distribute their property during their lifetime. Children may have inheritance rights when a parent passes away depending on the laws of the specific jurisdiction.
Can a 16 yr old decide to move from her custodial parents house to her non custodial parents?
No, that is up to the parents to decide.
Should age ratings on games be banned?
No, Parents should take more interest in their kids and what they do (Play video games with them, get an idea of what a game is and if they child can handle it)
What is tentative occupational interest?
A tentative occupational interest is determined by an interest inventory to help you decide what career you are best suited for
What is equity residential and why is it important?
It is the actual value you have in your home after your interest is paid. The reason it is so important is that it is the value on which your taxes are based. It is also the how you would guage the selling price should you decide to sell your property.
Can I port my mortgage to a new property if I decide to move?
Yes, you can port your mortgage to a new property if you decide to move, but it depends on your lender's policies and the terms of your mortgage agreement.
If property is left to the fathers children undivided can one of the children be disinhereted?
Your question is somewhat unclear. If you question whether one of the children can be left out after the parent has died the answer is no. If the father left the property to all his children then each has an undivided interest in the property and no child was disinherited. That means each has the right to the use and possession of the property. If the property is sold and there are five children, each will receive one-fifth of the net proceeds.If your question is whether a parent can disinherit a child, the answer is generally yes if the child is an adult. You must check your state laws to determine how a will must be drafted to effectively disinherit an adult child. In some states, if the will is not properly drafted, the court will decide the child was simply forgotten and will then distribute share to that child.Minor children cannot be disinherited.
How do you tell your friend that she can do better?
It is not really for you to judge or for you to decide whom she has interest in or not. Worry about what is going on with you and let her decide what is best for her.
