Sentences with phrase «by joint tenancy»

Some might want to take it by joint tenancy or tenancy in common.

Examples of will substitutes include: life insurance, retirement accounts, annuities, custodial accounts, trusts, government savings bonds, property held by joint tenancy, property transferred by deeds of title or gifts, and payable - on - death or transfer - on - death accounts.

Not exact matches

Assets owned individually by a decedent at death that don't pass to another person by trust (i.e. revocable living trust), contract / beneficiary designation (i.e. life insurance, annuity or 401 (k)-RRB-, or operation of law (i.e. joint tenancy with right of survivorship) may be subject to probate if the applicable threshold is exceeded.

This is similar to joint tenancy with right of survivorship but may only be used by married couples.

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.

When unmarried individuals own property in joint tenancy, each owner's share of the property — and therefore the part of the basis that's stepped up when that owner dies — is determined by contribution to the purchase price.

Joint tenancy, often called «joint tenants with right of survivorship,» is a form of holding equal interests in an asset by two or more perJoint tenancy, often called «joint tenants with right of survivorship,» is a form of holding equal interests in an asset by two or more perjoint tenants with right of survivorship,» is a form of holding equal interests in an asset by two or more persons.

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.

Having transferred the house into joint tenancy with Helen, the house would no longer form part of Kay's estate (because it passed by way of survivorship to Helen).

Joint tenancy or tenancy in common Property owned by more than one person must be owned in one of two ways: joint tenancy or tenancy in coJoint tenancy or tenancy in common Property owned by more than one person must be owned in one of two ways: joint tenancy or tenancy in cojoint tenancy or tenancy in common.

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.

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».

Tenants by the entire - ties is a special form of joint tenancy ownership that is only available to married persons, where ownership is guaranteed to one spouse in the event of the others death.

The plan should include the child's medical support needs, the availability of medical insurance or services provided by the Arizona Health Care Cost Containment System and whether a cash medical support order is necessary; (7) Excessive or abnormal expenditures, destruction, concealment or fraudulent disposition of community, joint tenancy and other property held in common; and (8) The duration of parenting time and related expenses.

Where a tenancy is vested in joint tenants, the normal rule would be that an application for a new lease would have to be made by both of them.

There was a legal joint tenancy here; but in equity it was a tenancy in common created by the unequal contributions to the purchase price.

In general, a joint tenancy is unaffected by a will, because property is conveyed pursuant to the joint tenancy outside the terms of the will.

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.

In 1998 the applicant and his wife were granted a joint tenancy of a three bedroom house by Birmingham City Council.

Injunctions by W. Kent Power Insurance by Gideon Grant, Angus C. Heighington and W. Kent Power Interest by E.L. Weaver Interpleader by W. Kent Power Intoxicating Liquors by R.T. Ferguson Joint Tenancy and Tenancy in Common by Paul Home Judgements and Orders by Gerald Kelly Judicial Sales by Paul Home Justices and Magistrates by Paul Home Landlord and Tenant by W. Kent Power Liens by F.W. Kemp Limitation of Actions by Paul Home

If the only asset owned by the judgement debtor is the joint tenancy property, then registration of the judgment against the interest of the debtor will not... Read more

Tenants In Common — A type of joint tenancy of property in which two or more parties are co-tenants of the same property but do not have a right of survivorship; each tenant's portion of ownership is separate and distributable by will or trust.

There are actually three types of joint ownership in Massachusetts (tenants in common, joint tenancy, and tenancy by the entirety).

If a court orders that a tenancy has to be signed over from one person (or joint names) to another, the social landlord must abide by this.

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.

By Jennifer Samara Shuber A recent Ontario Superior Court of Justice decision has confirmed that placing a property in joint tenancy means sharing the property equally on... Read more

See also joint tenancy and tenancy by the entirety.

By those means the joint tenancy had been severed, creating a «tenancy in common» between the husband and now - deceased wife.

The wife could not sever joint tenancy by a will because on her death the property went to the husband by right of survivorship in joint tenancy.

Unlike joint tenancy, however, under tenancy by the entirety the home is more fully protected from creditors.

The most common form of ownership, where more than one person owns an interest in Florida real estate, is called a «joint tenancy» and it is one of three kinds of ownership possible in Florida (the other two are «tenancy in common» and «tenancy by the entireties.»)

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.

Four unities are required to create a joint tenancy: 1) Time: all joint tenants must obtain their interest at one time; 2) Title: all must obtain their interest by the same document; 3) Interest — each joint tenant has an equal share in ownership; 4) Possession: each joint tenant has an equal right of possession.