Sentences with phrase «joint owners of the property»

When you die, your debt will not pass on to the members of your family or your beneficiaries, unless they are joint owners of the property.

We both are joint owner of property.

Dear Ani, As you are the joint owner of the property you can claim the tax benefits (50: 50 ratio).

It might be fine, since having a home is definitely a benefit to the child, but since the child will presumably not be named as a joint owner of the property, it might not be quite kosher.

We both are joint owners of the property but the mortgage is only on my name.

It considers both of you to be joint owners of any property you've acquired during the marriage.

Not exact matches

Joint Tenants With Right of Survivorship definition: Joint tenants with right of survivorship determines how property is handled upon death of one of the joint owJoint Tenants With Right of Survivorship definition: Joint tenants with right of survivorship determines how property is handled upon death of one of the joint owJoint tenants with right of survivorship determines how property is handled upon death of one of the joint owjoint owners.

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

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.

With time - shared property, the group of purchasers divides the usage of the property by weeks or months allowing usage only to the joint owners.

After the first of the joint tenants dies, that owner's one - sixth portion will be redistributed evenly amongst the other survivors so after the death, each of the survivors will own one - fifth of the property, jointly with all the other remaining joint tenants.

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.

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.

Joint tenancy with a right of survivorship provides a real property owner with a right of survivorship in the unfortunate event that the co-owner passes away.

Basma Group and Arada will be the joint owners of the hotel, with the latter playing a developer management role in the delivery of the property.

SAN FRANCISCO — A joint program of San Francisco Public Works and the Arts Commission, StreetSmARTS pairs artists with private property owners who have received Notices of Violation for the...

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.

Joint tenancy is where more than one person owns real property and the property passes automatically on the death of one joint owner to the surviving joint owJoint tenancy is where more than one person owns real property and the property passes automatically on the death of one joint owner to the surviving joint owjoint owner to the surviving joint owjoint owners.

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

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

Registering property in both names as joint tenants avoids payment of estate fees and extra legal fees when one of the owners dies.

In such instances, when property was acquired by one of the spouses before marriage, but the couple decided to change title after the marriage, to include both spouses as joint owners, the courts will assume such property is community property.

If two people are registered on the Title as joint tenants, and one of them dies, the survivor becomes the sole owner of the property.

The surviving joint tenant need only complete the required forms, provide proof of death and pay the land registry fees to become the sole owner of the property.

We have extensive experience in real estate and property litigation and advise developers, owners, buyers and real estate companies on a broad range of disputes from the sale and acquisition of real estate to disputes between joint venture partners.

Upon learning Gloria was a joint owner on title, Max and Nathan expressed concerns about the property transfer but were reassured by Gloria this was done simply to provide her with greater ease in the management of their mother's affairs and eventually her estate.

While this is a heart - warming story in many respects, the potential for equity held in the property to be divided in a way that is unfair on one joint owner and their benevolent families is a real one — and a risk families and their loved ones need to take seriously at the point of purchase, when legal protection by way of declarations of trust can be put in place easily.

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.

The pair are advising the joint owners of the building, known as the Cheesegrater, on the sale to CC Land — a company controlled by Chinese property magnate Cheung Chung - kiu.

In case of a joint loan, ensure that the nominee (and also the legal owner of the property) is the co-borrower.

All of these threats are especially damaging in light of the individuals affected: the most vulnerable property owners in Maryland, likely unable to secure insurance through any other provider but the Joint Insurance Association.

Couples who are divorcing or dissolving their civil partnership may want to change the ownership of their property from joint tenants (or common owners with a survivorship destination, in Scotland) to tenants in common (or common owners, in Scotland).

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.

Form of joint ownership which provides that if one joint owner dies, his or her share becomes part of his or her estate rather than automatically becoming the property of the other joint tenants.

All of the owners of the property are named in the partition lawsuit, with the joint owner (or owners) that want to dissolve the shared ownership serving as plaintiff, or petitioner, with the remaining owners in the role of defendant, or respondent.

The District of Columbia government, property owners and developers have made tremendous strides in their joint effort to transform D.C. into a 24 - hour city.

In addition, the fund will invest in joint ventures with owners of properties that meet its criteria.

The Jim and Jane Meddress Joint Revocable Trust («Owner») was the owner of a commercial propOwner») was the owner of a commercial propowner of a commercial property.

Like joint tenancy, this form of ownership means each spouse owns 100 percent of the property and an equal right to possess the home, and provides that when one spouse dies, the surviving spouse automatically becomes the property's sole owner.

Thomas Hanley's practice focuses on all areas of transactional real estate law, with emphasis on advising investors, lenders, property owners, and developers in all aspects of purchase, sale, financing, leasing and joint ventures involving hundreds of properties ranging from office and retail to multifamily and mixed - use projects.

The property, straddling Barrington and Barrington Hills, is being developed by a joint venture of Great Lakes Principals LLC of Wheaton and the Wamberg Family Trust, longtime owner of the 43 - acre site.

Through programmatic joint ventures, Campus Advantage has built its property portfolio of owned and managed properties to ~ 30,000 beds, making Campus Advantage the sixth largest owner / operator in the United States.

Banks, realtors, title companies, etc., correspondingly, all recognize Florida real estate held as «joint tenants with right of survivorship» as being the sole property of the surviving tenant when one of the owners passes away.

-- 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.

Berkshire and Leucadia National Corp. are joint owners of Berkadia Commercial Mortgage LLC, a provider of banking and sales services to the property industry.

One pitfall of particular concern to real estate practitioners that this site addresses is the common misconception that owning property as joint tenants automatically ensures inheritance by the other joint owner.