Sentences with phrase «joint owner the interest»

Not exact matches

The board, he said, could adjust the figures pertaining to the sale of East Hampton's interest in the Poxabogue Golf Center to Southampton Town, its joint owner, but suggested that if members feel confident that the contract approval is imminent it should be left as is.

This means that, when one of the joint tenants dies, his ownership interest automatically gets divided between the surviving owners.

When there are multiple joint owners, they (the owners) usually pick a person at random to be the primary, unless there is a large amount of interest involved, in which case I would suggest consulting a tax attorney.

Joint Tenancy: A form of ownership under which owners have equal interest in the property and may sell their interest to whomever they choose.

form of joint ownership of an asset in which ownership can be unequal and one owner's interest can be sold, mortgaged, or willed without the consent of the remaining owner (s); there is no ability to name a beneficiary, so interest in these assets will always fall under the deceased owner's will

«CDIC insures eligible deposits at each CDIC member institution up to a maximum of $ 100,000 (principal and interest combined) per depositor (or, in the case of joint deposits, per set of joint owners), for each of the following:»

Further to your question, if a home is owned in «joint tenancy,» the deceased party's interest simply passes to the other owner.

Deposits at banks and CDs are generally insured by the FDIC on principal and accrued interest up to $ 250,000 per individual depositor and up to $ 250,000 per owner of joint accounts.

The owner and joint owner (if any) agree to be jointly and severally liable for negative balances on any accounts in which either or both owners have an ownership interest, including any overdrafts, regardless of the cause, and agree to immediately deposit sufficient funds to cover the negative amount of the overdraft.

A key distinction and benefit to a joint tenancy is that real property passes outside of probate, whereas a tenancy in common will require a probate for the deceased owners undivided half interest.

In the event of the death of an owner, the entire beneficial interest in the Account shall be transferred to the surviving joint owner (s).

To support all aspects of the pet industry — from pets to owners to retailers — proceeds from all our events are donated to key organizations and non-profits, including: Pets in the Classroom, the Human Animal Bond Research Initiative (HABRI), Coral Restoration Foundation, National Animal Interest Alliance (NAIA), Pet Industry Joint Advisory Council (PIJAC), Pet Leadership Council and Project PIABA.

She said that the owner of an older pony had just given her a container of Springtime's Joint Health Formula that she was trying out, and to offer it to anyone else that was interested.

This analysis was based on the perspective that for dog owners or breeders, avoidance of any of the debilitating joint disorders would be of prime interest.

But owners are more interested in preventive measures to ensure good health, and they seem to be avoiding some higher - end procedures, such as joint replacement.

Resulting trust The law presumes that a joint tenant who contributed nothing toward the property holds his or her interest in trust for the contributing owner.

«Joint tenants» and «tenants in common» are both terms that refer to how owners of a property hold the beneficial interest in it.

Justice Blair Nixon describes three categories of claims: (1) claims by LMP Resources as a joint operator / working interest owner with Exall, (2) various lien claims, and (3) claims by Alberta Treasury Branch (ATB) as a secured lender.

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.

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.

The joint owners don't have to agree here; one joint owner can unilaterally transfer his or her interest in the house, or condo, or vacation home, without approval of the other owner.

-- including a lien on the stock of a cooperative housing corporation (a «co-op»)-- no lender can enforce its due - on - sale clause due to any of the following prevalent circumstances: (1) The creation of a lien (or other encumbrance subordinate to the lender's security instrument) that does not relate to a transfer of rights of occupancy in the property; (2) The creation of a purchase money security interest for household appliances; (3) A transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; (4) The granting of a leasehold interest of three years or less * not containing an option to purchase (5) A transfer to a relative resulting from the death of a borrower; (6) A transfer where the spouse or children of the borrower would become owners of the property; (7) A transfer resulting from a decree of dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property (8) A transfer of the borrower's property into an inter vivos trust in which the borrower is and remains a beneficiary and which [trust agreement] does not relate to a transfer of rights of occupancy in the property; or (9) Any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.