Sentences with phrase «as joint tenancy»

Certain forms of title such as joint tenancy carry with them an automatic right of survivorship.

On the other hand, in respect to the real estate that was also put into joint names as joint tenancy because the husband indicated on the transfer of ownership to he and his wife that it was being done for «natural love and affection» (to avoid land transfer tax among other things) the wife retained her 50 % ownership interest of the real estate.

For example, you can easily name beneficiaries on your own, title assets as joint tenancy with right of survivorship on your own, and even create your own trust using an online service such as Nolo.

Not exact matches

Joint tenants wishing to transfer the joint tenancy property together (as one) may also use a quitclaim deed to dJoint tenants wishing to transfer the joint tenancy property together (as one) may also use a quitclaim deed to djoint tenancy property together (as one) may also use a quitclaim deed to do so.

My accountant says that he can count the condo as my mom's primary residence, but I have to pay capital gains tax on the cottage even though we have joint tenancy.

CDs: Hold property in joint tenancy with right of survivorship (or as tenancy by the entirety if owners are spouses), transfer title to a revocable living trust, or name a payable - on - death beneficiary.

Money Market Accounts: Hold property in joint tenancy with right of survivorship (or as tenancy by the entirety if owners are spouses), transfer title to a revocable living trust, or name a payable - on - death beneficiary.

Joint tenants who live in the property as their main home automatically take over a tenancy.

If a husband and wife own property as tenants in common or in joint tenancy, the replacement Property must be deeded to both spouses, either as tenants in common or joint tenants.

Joint ownership of property whether it be in joint tenancy, tenants - in - common, or as a strata owner in a complex, is becoming increasingly common and more complex as time goeJoint ownership of property whether it be in joint tenancy, tenants - in - common, or as a strata owner in a complex, is becoming increasingly common and more complex as time goejoint tenancy, tenants - in - common, or as a strata owner in a complex, is becoming increasingly common and more complex as time goes on.

In those cases where it is clear either (a) that the parties did not intend a joint tenancy at the outset or (b) had changed their original intention, but it is not possible to ascertain by direct evidence or by inference what their actual intention was as to the shares in which they would own the property, «the answer is that each is entitled to that share which the Court considers fair having regard to the whole course of dealing between them in relation to the property».

Where it is clear that the parties did not intend a joint tenancy upon purchase, or had changed their original intention as to their beneficial shares, but it is not possible to ascertain by direct evidence or inference what their actual intention was, each is entitled to that share which the court considers fair having regard to the whole course of dealing between them in relation to the property.

However, in the case of land the common law presumption of joint tenancy has been altered by statute, so that land owned by two or more persons is presumed to be owned by them as tenants in common unless the title expressly states that they are joint tenants.

Offering a conversion from joint tenancy to «room - by - room» individual tenancies is likely the best way forward, and likely to be supported as a standard of tenancy by existing law anyway.

As an alternative to joint tenancy, the property could be owned by the children with the parent having a Life Estate.

The Court of Appeal made a declaration that the parties held the severed joint tenancy of the property as tenants in common in equal shares.

In California, the co-owner can assign their interest in real estate to another, without consent of the co-owner, and this converts the tenancy to a joint tenancy; this also happens if you use the property as collateral.

Pitfalls and Dangers of Joint Tenancy Robert L. Bolick, Shareholder Most real estate owned by more than one person is held as «joint tenants with rights of survivorship&raJoint Tenancy Robert L. Bolick, Shareholder Most real estate owned by more than one person is held as «joint tenants with rights of survivorship&rajoint tenants with rights of survivorship».

The Court of Queen's Bench finds that, upon his death, Bill no longer owns an interest in the house, as a result of having entered (along with Jean) into joint tenancy with a right of survivorship.

One of the problems with joint tenancy ownership is that while the registered title might reflect joint ownership, the true beneficial owner might be one of the registered owners are in fact another unregistered owner in trust — as such, watch out for phony joint tenancies....

In Hansen, the Ontario Court of Appeal addressed what conduct constitutes a «course of dealing» sufficient to establish that a joint tenancy has been severed, such that the co-owners now hold the property as tenants in common.

The Court of Appeal made a declaration that the parties held the severed joint tenancy as tenants in common in equal shares applying Stack v Dowden [2007] 2 All ER 929 and explaining Oxley v Hiscock [2004] 3 All ER 703.

Severance of a joint tenancy may be achieved in one of three ways: 1) unilaterally acting on one's own share, such as selling or encumbering it; 2) a mutual agreement between co-owners to sever; or 3) any course of dealing sufficient to intimate that the interests of all were mutually treated as constituting a tenancy in common.

There is a presumption that when one person transfers title to property gratuitously into the name of another (including into a joint tenancy) the transfer is not a gift, but the person receiving an interest in the title gratuitously, holds the title in trust (known as a resulting trust) for the transferor during her lifetime, and for her estate after death.

For real property, the joint ownership can be joint tenancy, which passes to the survivor on the death of one of the joint owners; or it can be held jointly as tenants in common, which means that on the death of one of the joint owners his or her undivided one - half of the interest is part of the estate of the deceased co-owner.

In the Niels Estate [3] case the issue was whether a joint tenancy interest in a house passed by way of survivorship to the deceased daughter - in - law pursuant to a joint tenancy as a gift, or was the deceased's joint tenancy interest properly part of her estate to be shared among her children.

A legal relationship and method referencing the ownership of real property by which one person mutually holds legal title to property with other persons in such a way that when one of the joint owners dies, the remaining party (s) owns an undivided interest in the entire property; more legally referred to as Tenancy in Common with rights of survivorship.

Vesting 101 A presentation on the basics of vesting and explanation of different methods of taking title such as Sole Ownership, Tenancy by the Entirety, Joint Tenants with Rights of Survivorship, and Tenancy in Common and proper parties to contracts and types of typical deeds.

Assets such as real estate, automobiles, bank accounts and stock accounts that are held in joint tenancy with right of survivorship will pass to the surviving joint tenant upon your death, and not in accordance with any directions in your will.