Sentences with phrase «joint property»

The end result of the process is a separation agreement which outlines the future of your lives apart while addressing all the relevant issues such as joint property, children, alimony etc..

In these states, assets and debts that build up during a marriage may be considered joint property.

Choosing the best form of ownership for joint property can greatly simplify things if one of the owners die.

For many, joint property ownership with a partner, family member or friend is the only way onto the housing ladder, but is it that simple?

However, it is difficult to convince a court to consider certain joint properties as separate.

Maybe you want to make certain assets joint property, or revert it back to individual ownership.

You can request the terms you desire for these orders, such as how you want joint property distributed, in your petition — and the court can take those requests into consideration.

Pennsylvania does not recognize the concept of community property, which is how married persons hold title to joint property in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.

Joinder Joint Custody Joint Legal Custody Joint Petition Joint Physical Custody Joint Property Joint Tenancy Judgment Judgment of Divorce Judgment Nisi Judicial Foreclosure Jurat Jurisdiction Jurisprudence Justice System

Judgment awarded against husband who obtained multiple mortgages on joint property without wife's consent.

The law is still unclear on whether using excluded property to buy joint property causes the loss of the excision and makes the full amount equally shareable.

In community property states, assets and debts that a couple amassed during the marriage may be deemed joint property.

Additionally a number of other post VJF cases have upheld exclusions on monies used to fund joint properties.

A Spouse May Not Unilaterally Change Joint Property to Community Property In Arizona, all property acquired by a couple after marriage is presumed to be community property.

Items that are not joint property under the statutory regime comprise premarital assets, inheritances and gifts acquired during the marriage, and chattels acquired by a spouse during the marriage for normal personal use or for the exercise of a profession.

While it is anticipatory in nature, it deals with what would have then been existing, «vested» rights and obligations, such as existing joint property, and spousal support obligations.

Marital property, also called joint property, is generally divisible by the court in your divorce decree while separate property is not.

Also, you can treat an LLC as a «disregarded entity» for tax purposes meaning you can file it on you personal tax return as long as it is a single member LLC or just you and your spouse depending on your state laws regarding spousal joint property rights.

A question does arise about the difference in compensatory payments when a separation causes a significant decline in income for one of the partners, though the partner can apply to a family law judge to divide joint property and redress grievances.

However, shortly after the pair entered their civil partnership, he started to claim his second home allowance on their joint property in Hammersmith, west London.

Divorce, succession planning or one co-debtor wanting to branch out on his own can all force the breakup of a joint property purchase.

In your case, Johanna, because you inherited the joint property, your adjusted cost base or acquisition cost should be one - half of the fair market value as of the date of death of the person you inherited the property from initially.

Also, the tax benefits has to be claimed in the ratio of Ownership share in the joint property.

If I buy a joint property with my wife and 1.

That makes it essential to spell out who owns what (and who gets what in the event of a split) via a cohabitation agreement, whether that's a 50 - 50 division, or another figure that reflects what each of you have invested into the joint property.

You can lay out how you as a couple will share income, pay bills, what property is joint property (as opposed to individually owned), and more.

Because of the many disadvantages of joint property, it is often advisable to terminate such ownership in favor of sole ownership or tenant in common ownership.

It was of the opinion that once the corporate veil had been pierced, the property in question was to be regarded as the joint property of those controlling the company.

Worth pointing out that joint property (e.g. joint tenancy in real estate or joint ownership of a car) reverts to any survivors and doesn't form part of the estate.

Can one spouse decide to reconvert the joint property to community property without the other -LSB-...]

In most states, any income that a spouse earns during the marriage is considered marital property (also called «joint property» or «community property»).

Joint property is shared equally and, if necessary, sold to divide the proceeds.

When a couple divorces in New York State, their joint property will be divvied up in a manner that the presiding court decides is equitable and fair.

Based on the facts of this case, it would appear that in most family law cases where division and equalization of joint property is addressed in a meaningful way, the conduct of the parties will point to a severance of joint tenancy.

It can get complicated if you and your partner have joint property.

In Washington state, where community property is divided in a «fair and equitable,» rather than equal manner, the person who has little current earning capacity will push for 60 % of the joint property while the employed spouse will seek a 50/50 division and inch up slowly to agreeing to 51 %, then 52 %, etc..

In most states the general rule is that all assets obtained during a marriage are joint property but responsibility for the debts of one spouse does not pass to the other spouse unless the debt was in the name of both parties.

Property combined with joint property for the benefit of both spouses becomes marital.

Many factors must be taken into account when filing for a divorce, including the separation of joint property, custody arrangements, child support and alimony.

To start your Georgia flat fee uncontested divorce (beginning at $ 299 without children and $ 499 with minor children — more if you have joint property or joint debts), or to ask a question, complete the following.

JOINT PROPERTY - property that is held in the name of more than one person.

When couples marry, generally, property they acquire from that date forward is considered the joint property of both spouses.