Posted on: 15th Apr, 2008 03:06 pm
My in-laws are going on title and mortgage with my husband and I. If my in-laws died, would their other son be intitled to 1/2 of the parents portion of the property if there is nothing in their trust about distribution?
Hi Jagram,
Welcome to forums.
Whether the other son will be entitled to half of the interest in property will be determined by a Will or any deed which the parents may have prepared for you all. By the way, do they have a Will? or did they ever had you sign a transfer-on-death deed?
Thanks.
Welcome to forums.
Whether the other son will be entitled to half of the interest in property will be determined by a Will or any deed which the parents may have prepared for you all. By the way, do they have a Will? or did they ever had you sign a transfer-on-death deed?
Thanks.
It depends on how title is held. Joint tenancy and life estates allow the surviving title holders to get the deceased's property interest.
Otherwise, the general rule is that property interests go to children on death of both parents absent a trust or will provision.
Otherwise, the general rule is that property interests go to children on death of both parents absent a trust or will provision.
