Posted on: 22nd Nov, 2008 08:57 am
I would like to add a 2nd party to share property title with me on my deed. There is no mortage or financial arrangement involved. Upon my death, I would like my half share distributed as per my will. If I should succeed my partner, I would like that half share returned to me make my ownership 100%.
Are there legal terms or wording for this arrangement?
Are there legal terms or wording for this arrangement?
Hi Carol!
You need to draft a deed mentioning such terms and conditions in it. For the legal terms or wordings of the deed, you will have to consult an attorney. The attorney will help you in drafting the deed as well as understanding it.
Thanks.
You need to draft a deed mentioning such terms and conditions in it. For the legal terms or wordings of the deed, you will have to consult an attorney. The attorney will help you in drafting the deed as well as understanding it.
Thanks.
Create a Will to transfer your interest at your death.
Grant your partner a "Life Estate" which would revert back to you or your heirs at your partner's death.
Grant your partner a "Life Estate" which would revert back to you or your heirs at your partner's death.
