Posted on: 06th Oct, 2008 04:47 am
Myself and significant other own 3 houses.
House WarranteeDead One reads Joint Tenancy, so that will pass to one when the other dies. That I assume does not go through probate if ONE of us dies...but...
Nothing on the deed states what would happen if both of us die together?
I assume it would go through PROBATE to our respective hiers as noted on will?
House Deed two reads: ( Name) and undivided 75% interest and (Name2), an undivided 25% interest. Now I understand %ownership, but I don't understand if there is no POD or TOD will this house go in PROBATE before the inheritors can either sell or buy our one another? and agian, if we were to die together would it go through probate?
House Deed Three reads Tenants in Common with names written with thier respective %. My question is the SAME as above. When one of us dies it woud go to the respective heir plus the other owner....but I assme this house would again automatically go through PROBATE since there is no TOD or POD?
So HOW DO WE AVOID PROBABATE with house ownership between two unmarried people? Can we write our Will in such a way this could be taken care of? How?
Trying to put estate in order.
Michelle
House WarranteeDead One reads Joint Tenancy, so that will pass to one when the other dies. That I assume does not go through probate if ONE of us dies...but...
Nothing on the deed states what would happen if both of us die together?
I assume it would go through PROBATE to our respective hiers as noted on will?
House Deed two reads: ( Name) and undivided 75% interest and (Name2), an undivided 25% interest. Now I understand %ownership, but I don't understand if there is no POD or TOD will this house go in PROBATE before the inheritors can either sell or buy our one another? and agian, if we were to die together would it go through probate?
House Deed Three reads Tenants in Common with names written with thier respective %. My question is the SAME as above. When one of us dies it woud go to the respective heir plus the other owner....but I assme this house would again automatically go through PROBATE since there is no TOD or POD?
So HOW DO WE AVOID PROBABATE with house ownership between two unmarried people? Can we write our Will in such a way this could be taken care of? How?
Trying to put estate in order.
Michelle
See an attorney about having deeds drawn up to put the other two properties in your names as joint tenants.
Living trust info can be found here :http://www.calbar.ca.gov/state/calbar/calbar_generic.jsp?sCategoryPath=/Home/Public%20Services/Consumer%20Information/Pamphlets&sImagePath=Living_Trust.gif&sCatHtmlPath=html/Home_Public-Services_Consumer-Information-Pamphlets_Living-Trust.html&sFileType=HTML&sHeading=Living%20Trust
If you aren't married, I am not sure if you can enter into a living trust with your partner, but maybe you can see an attorney about setting up two individual living trusts, and that way you are covered. If the marriage rule applies. Any attorney's office should be able to help answer your questions.
Here is a free legal advice forum http://forum.freeadvice.com/
here is a law forum http://www.thelaw.com/forums/
Hopefully that will help.[/color:b85b7ba05a]
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