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A joint tenancy or joint tenancy with right of survivorship (JTWROS) is a type of concurrent estate in which co-owners have a right of survivorship, meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. The deceased owner's interest in the ...
The four unities is a concept in the common law of real property that describes conditions that must exist in order to create certain kinds of property interests. . Specifically, these four unities must be met for two or more people to own property as joint tenants with legal right of survivorship, or for a married couple to own property as tenants by
Who owns your real estate, investment accounts, bank accounts and other assets?. Being joint tenants with right of survivorship with someone else gives each of you ownership rights to assets. That ...
Some states have created a newer form of community property, called "community property with right of survivorship". This form of holding title has some similarities to joint tenancy with right of survivorship. The rules and effect of holding title as community property (or another form of concurrent ownership) vary from state to state.
Jaime Uziel knows that as a real estate attorney his clients depend on him to interpret the legalese that's part of any real estate transaction. He's happy to do that, he says, but he also tries ...
In the first main form of co-ownership, known as "joint tenancy", the joint tenants are deemed to share equally in the value of the property if it is sold, and if one joint tenant dies, the others will (by the "right of survivorship" or jus accrescendi in Latin) take the whole of his share. This is a legal presumption, and owners are free to ...
In either case, a Partition Referee is appointed to carry the interlocutory judgment into effect. The Partition Referee may be authorized to employ attorneys, surveyors, real estate broker, engineers, and the like. The sale by the Partition Referee can be made by either public auction or private sale, whichever is more beneficial to the parties.
A life estate is a form of freehold estate, and the life tenant is guaranteed the use of the property for their lifetime (sometimes called a life estate "pur sa vie," which means "for his own life").
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