what is the different between transfer on death and joint tenants with rithts of survivorship?
457773
Transfer on death means that one person owns something and passes it on to another person upon their death.  For example, if a parent specifies that ownership of thier home will transfer on death to their children, then the children have no ownership rights until the death of the parent.  Joint tenants with right of survivorship means that both (or all if more than 2) own it as long as they are both living, but upon the death of either, full ownership would immediately transfer to the other(s).  This is often the way a husband and wife own property together so that, upon the death of one, the other becomes the sole owner of the property.  It is important to give careful consideration to these kind of things to be sure your wishes are met and that you do not create an unnecessary tax burden for your heirs upon your death.  For example, suppose a man with 2 children marries a woman who also has 2 children and the man and woman are in an accident and both are killed, but the man is pronounced dead 10 minutes before the woman.  Because the man died first, the woman now becomes the sole owner of the home and, in the absence of a will or other instrument to designate a different outcome, the 2 children of the woman would now own the home and the 2 children of the man would have nothing.  Think carefully about what could happen and be sure your wishes are clearly defined and implemented.  You may want to consult an Attorney to be sure this is done correctly.
711157
It really depends where you are. In California its a community property state, so even if they are not on title, half of it is still theirs. \n\nThere are ways of taking them off. You can deed off your spouse even if they are not on title with a quitclaim deed. This will make it so you are the sole owner. \n\nIf you want to put them on. There are different ways of holding title. Joint tenant, tenants in common, community property. Joint tenants is where once the other tenant dies, the property is split between the remaining title holders. Tenants in common is just people holding title in any percentage. Community property is 50/50 with your spouse. You should take to a title office about this.
566162
It depends on your state. I know that in MA if either party in a rental contract dies than it is void. Sometimes the person who is heir to the property will continue to rent to you or a lot of times they decide to sell. Good Luck eithe rway!
1138497
See a lawyer with your husband and he/she will get the ball rolling with the paperwork involved to change the title/deed to the new joint owners if this is what your husband agrees to!!! \n\nIf he does not, he better set it in his will at that same time to say that if anything happens to him that the rightful person(s) receives the property upon his demise!!!\n\nGood luck.....
1086771
There are three ways in which two or more people may own present possessory interests in the same property: (1) joint tenancy (which includes the right of survivorship); (2) tenancy in common (which does not have the right of survivorship); and (3) tenancy by the entirety (which exists only between husband and wife, and which includes not only survivorship but "indestructibility.") [172]\n\nII. JOINT TENANCY\n\nA. Joint tenancy generally: In a joint tenancy, two or more people own a single, unified interest in real or personal property. [172]\n\n1. General attributes: Here are the most important attributes of a joint tenancy:\n\na. Survivorship: Each joint tenant has a right of survivorship. That is, if there are two joint tenants, and one dies, the other becomes sole owner of the interest that the two of them had previously held jointly.\n\nb. Possession: Each joint tenant is entitled to occupythe entire premises, subject only to the same right of occupancy by the other tenant(s).\n\nc. Equal shares: Since the joint tenants have identical interests, they must have "equal shares." Thus one joint tenant cannot have a one-fourth interest, say, with the other having a three-fourths interest.\n\nB. Creation: A joint tenancy must be created by a single instrument (deed or will), and must be created in both or all joint tenants at the same time. [173]\n\n1. Language used: Usually, a joint tenancy is created by specific language: "To A and B as joint tenants with right of survivorship."\n\n2. Conveyance by A to A and B: At common law, A (owner of a fee simple) cannot create a joint tenancy between himself and another by conveying "to A and B as joint tenants." But many states, by statute or case law, now permit this result. [174]\n\nC. Severance: There are a number of ways in which a joint tenancy may be severed, i.e., destroyed. Severance normally results in the creation of a tenancy in common. [175]\n\n1. Conveyance by one joint tenant: A joint tenant may convey his interest to a third party. Such a conveyance has the effect of destroying the joint tenancy. [175] (Example: A and B hold Blackacre as joint tenants. A conveys his interest to C. This conveyance destroys the joint tenancy, so that B and C now become tenants in common, not joint tenants.)\n\na. Three or more joint tenants: If there are three or more original joint tenants, a conveyance by one of them to a stranger will produce a tenancy in common as between the stranger and the remaining original joint tenants, but the joint tenancy will continue as between the original members. (Example: A, B and C hold Blackacre as joint tenants. A conveys his interest to X. Now, X will hold an undivided one-third interest in the property as a tenant in common with B and C. B and C hold a two-thirds interest, but they hold this interest as joint tenants with each other, not as tenants in common. Thus if X dies, his interest goes to his heirs or devisees. But if B dies, his interest goes to C.)\n\n2. Granting of mortgage: Courts are split as to whether the granting of a mortgage by one joint tenant severs the joint tenancy. In so-called "title theory" states, the mortgage is treated as a conveyance, and thus severs the joint tenancy (so that the mortgagee can foreclose on the undivided one-half interest of the mortgagor, but the interest of the other party is not affected). In "lien theory" states, the mortgage does not sever the joint tenancy; in some but not all lien theory states, if the mortgagee dies first, the other joint tenant takes the whole property free and clear of the mortgage. [177]\n\n3. Lease: Most courts seem to hold that a lease issued by one joint tenant does not act as a severance. [178 - 179]\n\nIII. TENANCY IN COMMON\n\nA. Tenancy in common: Whereas in a joint tenancy each party has an equal interest in the whole, in a "tenancy in common" each tenant has a separate "undivided" interest.
1088977
This will depend on the tenancy agreement and country - laws in Scotland are slightly different from England.\n\nFor England the contract (shorthold agreement) would normally be for a fixed term.  I am assuming both tenants have signed this contract.  If one leaves then there would have to be a supplementary agreement signed by all contracted parties to remove and liabilities or obligations of the departing tenant.  The remaining tenant would then assume all responsibilities under the contract terms.  \n\nAlternatively, and what i would suggest, is a new contract is set up with the remaining tenant - if everyone is in agreement with this approach.  \n\nGood luck.
818559
I am a landlady, although in Oregon.  You signed a lease, which is a contract.  That contract is good for the time period specified in the lease.  Unless your boyfriend's mom AND the landlord/leasing company are both agreeable, you are stuck with the terms of the lease.  If they both agree to let you out of the terms of the lease, then they will need to put together a brand new contract in their names only, taking your name completely out of the picture.  As long as your name is on that lease, you are liable to pay - and a lease means that you are liable for money through the end of the lease.  My leases always give a dollar amount by the month, but also an amount that equals the amount for the entire term - if it's a one year lease, an amount equal to the amount that will be paid for that entire year.  In other words, you could be held liable for the balance of that amount if your boyfriend's mother moves out and doesn't pay, even if you're not living there at the time.
736704
No probate is necessary on a "Totten Trust" (payable on death) bank account or shares of stock, etc. You only need to supply a death certificate.\n\nIf the decedent died insolvent, there could be a claim against the funds -- depending on the facts of the case.\n\nBut you may need a tax clearance in a few states.\n\nThe same is true with joint accounts with right of survivorship, or tenancy in common or community property accounts.
302349
Depends on the laws in your state with regards to the contract you signed...death is the only way out in some states!\nBest to speak directly with the broker and see if you can work things out either way.
245830
Someone who dies without leaving a will is considered "intestate"  \n\nThe major difference between dying testate (with a will) and dying intestate is that an intestate estate is distributed to beneficiaries in accordance with the distribution plan established by state law  (from http://law.freeadvice.com/estate_planning/wills/what_is_probate.htm)\n\nThe executor can't just distribute the estate however they choose.  This would have to be court supervised.\n\nEach state has laws regarding "intestate distribution".  \n\nDon't know what state you are in, but you can do internet search for "intestate distribution STATE" to see how the estate should be distributed.\n\nIf you suspect there was a problem with the distribution, contact a lawyer, you probably can still contest it.
373584
If you are joint on any bank account holdings, real estate, or other property he had, then you do not need a lawyer.  However, if there things that you were not joint owner of, then you at least have to go to court to havea judge name you the beneficiary.  In my case, my mother was joint on all of my father's ownings, so she did not have to do anything more than present a death certificate to have his name removed from those holdings.  Most such things are actually titled "joint account with right of survivorship".
436762
It depends on where you are looking.  In California they are referred to as "Tenants in Common" or TIC's.  Usually it's something like a 4-plex that has been divided into 4 separate units.  It's not a condo conversion.  They are called other things in other states--maybe you are thinking of a timeshare?
105371
A REIT would be treated as a stock.  So at death, it would be handed down to the benefactor.  There would be a step-up in basis for the person who inherits it.
222833
Assuming you own your portion in fee simple and there is no right of reversion at the end of your life, you can pass it to your heirs via a will.  So get down to the barrister or solicitor or whatever you people have over there and make a will.
638550
Well, say you want to will BlackAcre and WhiteAcre properties to A,B,C, and D equally.\n\nThere are two ways to do it:\n1. I will BlackAcre and WhiteAcre to A,B,C and D as tenants in common.[1]\nOR\n2. I will BlackAcre and WhiteAcre to A,B,C and D as joint tenants [2]\n\nThe difference would be that in the 1st case when one of them dies his interest is passed on to his heirs , while in 2nd case his interest is redistributed among survivors of the original holders.\n\nP.S. i would HIGHLY recommend you consult an attorney before writing a will, there are many caveats.
1182768
If they have entered into buying a property together, then they have to sell it and divide or buy out who ever is leaving.\n\nCommonly there is argument over the shares, the court will use constructive law principles to sort it out. \nIf they have not done any joint transactions, then they no owe to liability to each other. \n\nTwo people living together generally has no meaning, but the law will construct trusts to solve property disputes.\nThey can try to reach an agreement about who gets joint movable property ie possessions, if they can't they may resort to getting lawyers. This would be counter productive as the costs are prohibitve for trivial dispute.
2043
You might have a hard time.  Regardless of your marital status at the time of signing you could still be what is called tenants in common.  Any two people can be tenants in common.  Go back to your original contract and read what it says.  If it names both of you and both of you agreed then you are probably tenants in common.  Each having half undivided interest.\n\nBut this also means she would be responsible for half  of anything like taxes, mortgage payments and any other expenses with the property.\n\nAbout the only claim you can make to the property would be adverse possesion in he half interest but it might be a stretch.\n\nBut after 25 years of no payment of duties it might equal her half interest anyway.\n\nI would ask for accounting and partition....but see a lawyer.