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joint tenancy
9 similar searches for joint tenancy
1 headnote for joint tenancy
1.577 documents for joint tenancy
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If you are thinking about using joint tenancy as means of avoiding the court probate charges, you really should carefully consider the risk you aie taking-that of losing your property. As an alternative, you should consider obtaining a living trust Like joint tenancy, a living trust can offer you a simple and cost efficient way to transfer property. Unlike joint tenancy, a living trust does not subject your property to the claims of your beneficiaries or their creditors. They do not gain a present interest in your estate and you keep total control of your property until your use for it ceases, (c) 2009 by Marlene S. Cooper. All rights reserved. (Marlene S. Cooper, an attorney for over 30 years, has a practice focused entirely on estate planning and probate. You may obtain further inform...
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A bankruptcy trustee could exercise his "strong arm" powers to sell property that a debtor shared with his father and brother in a joint tenancy, the 10th Circuit Bankruptcy Appellate Panel has ruled in reversing judgment. The debtor's father purchased 80 acres of farmland. In order to avoid probate, the father designated himself and his two sons as joint tenants of the property with rights of survivorship.
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DOMESTIC RELATIONS – property division; marital residence; separate property; traceable; marital property; stipulated; burden; gift; deed; clear and convincing; joint tenancy; form of title; co-sign; equity; during the marriage; marital debt; preponderance.
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I know of several cases that involve parents making one of their children a joint tenant on their property because they trust that child to "do the right thing" - divide the money with other family members, make sure the funeral and other financial matters are handled, etc. Unfortunately, people and relationships change. For any number of reasons (usually greed), in some cases the "trusted one" looks out for only for his or her own interests and refuses to correctly or timely share the property or otherwise carry out the parent's wishes. In some cases it happens that the "trusted one" has good intentions but passes away before making the proper distribution of the property. For example, suppose you put your married daughter on your bank account or your real estate as a joint tenant, the...
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A county seeking to recover Medicaid payments from the interest a woman had in a joint tenancy could recover half the value of the property at the time of her death, the Minnesota Court of Appeals has ruled. Prior to her death, a wife received $108,000 in medical assistance payments through a county Medicaid program. The county filed a claim to recover the full value of the benefits from real property the wife held with her husband as joint tenants. The wife transferred her interest in the property to the husband in order to gain Medicaid eligibility. The husband died five months after the wife, and the county filed its claim against the husband's estate.
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A: Let's go back to that original question. The reader said title was held in joint tenancy with right of survivorship. That means both individuals held title as joint tenants. Therefore, when that residence is sold, regardless of the marital relationship of the two (or more) joint tenant co-owners, each is entitled to a $250,000 exemption. It doesn't matter if they are husband and wife, two men, or two women. Nor does it matter if they are joint tenants. They could be tenants in common, each owning a 50 percent interest.
