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With minerals what rights does an owner with 50 percent undivided interest have?
If you own an undivided one-half interest that means you own a 50% interest in the whole property. That would come into play if the mineral rights, the property, or a portion thereof was sold. For example, if the mineral rights were sold you would be legally entitled to 50% of the net profit. The buyer would be required to cut a check for that amount in your name.
Can you convey an undivided interest in less than a full interest?
Yes. A person who owns 100% interest in property can convey any fractional interest to one or more people. A person who owns a fractional interest in property can convey that interest. An undivided interest means that anyone with a fractional interest in the property has the right to the use and possession of the whole property. If that property is sold or partitioned they are entitled to their fractional share in the net proceeds. If they die their heirs are entitled to their fractional share unless it is owned by the right of survivorship.Just remember that deeds should always be drafted by an attorney who can explain the options, explain the consequences and draft a proper deed for your jurisdiction. Errors made by non-professionals can be costly to correct if they can be corrected and once the owner signs a deed they cannot undo it.Yes. A person who owns 100% interest in property can convey any fractional interest to one or more people. A person who owns a fractional interest in property can convey that interest. An undivided interest means that anyone with a fractional interest in the property has the right to the use and possession of the whole property. If that property is sold or partitioned they are entitled to their fractional share in the net proceeds. If they die their heirs are entitled to their fractional share unless it is owned by the right of survivorship.Just remember that deeds should always be drafted by an attorney who can explain the options, explain the consequences and draft a proper deed for your jurisdiction. Errors made by non-professionals can be costly to correct if they can be corrected and once the owner signs a deed they cannot undo it.Yes. A person who owns 100% interest in property can convey any fractional interest to one or more people. A person who owns a fractional interest in property can convey that interest. An undivided interest means that anyone with a fractional interest in the property has the right to the use and possession of the whole property. If that property is sold or partitioned they are entitled to their fractional share in the net proceeds. If they die their heirs are entitled to their fractional share unless it is owned by the right of survivorship.Just remember that deeds should always be drafted by an attorney who can explain the options, explain the consequences and draft a proper deed for your jurisdiction. Errors made by non-professionals can be costly to correct if they can be corrected and once the owner signs a deed they cannot undo it.Yes. A person who owns 100% interest in property can convey any fractional interest to one or more people. A person who owns a fractional interest in property can convey that interest. An undivided interest means that anyone with a fractional interest in the property has the right to the use and possession of the whole property. If that property is sold or partitioned they are entitled to their fractional share in the net proceeds. If they die their heirs are entitled to their fractional share unless it is owned by the right of survivorship.Just remember that deeds should always be drafted by an attorney who can explain the options, explain the consequences and draft a proper deed for your jurisdiction. Errors made by non-professionals can be costly to correct if they can be corrected and once the owner signs a deed they cannot undo it.
May an individual gift their partial ownership (undivided interest) to another individual and retain a life estate when they do not own the entire property (other owners have an undivided interest)?
Typically yes
I own the real property I have an undivided half interest but my mother has a life estate do we both have to agree on what is done to the property?
Yes. Your mother would need to sign any mortgage or deed of sale for the property and any other instrument that would encumber the property. That would also apply to the owner of the other undivided one-half interest.
Can one party in an undivided interest gift their share of the interest to another party outside the undivided interest owners?
Yes. You are free to sell you interest to any willing buyer.
In an undivided interest property can one and only one partner give permission to hunt?
You should have permission in writing from all the owners of the property.
What rights do you have if you own an interest in real property?
As an owner of an undivided interest in real property you have the right to the use and possession of the whole property. If there are three owners and the property is sold or partitioned you have the right to one-third of the net proceeds. You have the right to one-third of the profits.
How does undivided interest apply to joint ownership of real estate?
Undivided interest means that each owner has the right to the use and possession of the entire property and one owner cannot divide the property so as to own their half, for example, as a separate portion.
Can interest in undivided propery be gfted to a crt?
Yes, interest in undivided property can be gifted to a trust. This can be achieved by transferring the ownership of the property to the trust, which would then hold the interest on behalf of the beneficiaries according to the terms outlined in the trust agreement. It is important to consult with a legal professional to ensure that the gifting process is carried out correctly.
What is undivided fee simple interest?
Fee simple absolute is the way we describe the complete and total ownership of real property. The owner in fee simple absolute has the right to full possession and control of the property and the property will pass to the owner's heirs upon death according to the terms of their will or according to the laws of intestacy if there is no will. Generally the conveyance of real estate by a deed conveys fee simple absolute. Generally, when we speak of "fee simple" we are referring to fee simple absolute. An undivided interest in property means that two or more persons own the real estate and each has the right to the use and possession of the entire property even if they own only a one-half undivided interest. Each has a 50% interest in the fee.
If a person is on the deed and mortgage of a property but does not live there can they legally enter the property without being invited?
Yes. Every grantee on a deed owns an undivided interest in the property. That means they each have the right to the use and possession of the property.
How do you forfeit your rights to your Undivided Interest and property owner associations?
If you purchased a property that has an undivided interest in common areas and that requires membership in a homeowner's association you cannot make any changes to either arrangement. By purchasing your lot or unit you agreed to be legally bound by the rules, regulations, covenants and restrictions set forth in all the documents recorded by the developer.
