When two or more people (whether spouses, romantic partners, friends, or business partners) purchase property, they put significant thought into, among other things, the property's value, appearance and condition, and how...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER FLORIDIAN LAW - I. STANDARD FORMS OF AGREEMENTS - A. Purchase and Sale Agreement sets forth the complete terms of the purchase and sale including, among other things,...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER FLORIDIAN LAW - I. STANDARD FORMS OF AGREEMENTS - A. Purchase and Sale Agreement sets forth the complete terms of the purchase and sale including, among other things, price,...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER MASSACHUSETTS LAW - I. STANDARD FORMS OF AGREEMENTS - A. Offer to Purchase sets forth buyer’s offer of price, date for closing, contingencies for inspections, financing etc....more
Estate planners generally tout the virtues of owning property jointly — and with good reason. Joint ownership offers several advantages for surviving family members. But this shouldn’t be viewed as a panacea for every estate...more
Married couples have a special way to jointly own property in some states that has advantages over regular joint ownership. If you are married and own property jointly, you should make sure you have the right form of...more
Often an aging parent will add an adult child to the parent’s account as a joint holder to assist with asset management or bill payment. However, this may lead to an unintended result in California when the parent dies. The...more
In Maryland, you can make a beneficiary designation on your real property. This type of transaction is called a Life Estate Deed. It can be a very useful tool to avoid probate while also preserving tax benefits. There are two...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER MASSACHUSETTS LAW - I. STANDARD FORMS OF AGREEMENTS - A. Offer to Purchase sets forth buyer’s offer of price, date for closing, contingencies for inspections, financing etc. and...more
In unanimously holding that a bank was not shielded from liability after removing a joint tenant with right of survivorship from accounts without his consent, the Tennessee Supreme Court dropped a lengthy footnote resolving...more
Key Facts of Real Estate Acquisitions under Floridian Law - LAW I. STANDARD FORMS OF AGREEMENTS - A. Purchase and Sale Agreement sets forth the complete terms of the purchase and sale including, among other things,...more
Probate. The word itself is enough to strike fear into the hearts of elderly individuals and their loved ones. It conjures images of lengthy delays waiting for wealth to be transferred and bitter disputes among family...more
Despite what one might think, estate planning isn’t limited to only the rich and famous. Previously, avoiding or minimizing federal estate tax liability was a primary motivation for creating an estate plan. But with a...more
A Last Will and Testament directs your Executor how and to whom your assets are to be disposed. If you do not have a Will, assets in your name when you die will pass under New York State’s intestacy laws. However, only the...more
An account that is titled in your name and that of your child “with right of survivorship” passes to your child upon your death “by operation of law.” That is, your Will does not control the disposition of this account. When...more
Predictability that joint owners/tenants need today: This spring, the Tennessee Supreme Court ruled that joint property owners can eliminate the survivorship rights of jointly held property, changing their ownership to...more
The Tennessee Supreme Court recently ruled that “a joint tenancy with an express right of survivorship can be severed by the unilateral actions of one of the co-tenants.” Darryl F. Bryant, Sr. v. Darryl F. Bryant, Jr., No....more
When two or more people (whether spouses, friends, or business partners) purchase property, they put significant thought into, among other things, the property's value, appearance, and condition, and how they are going to...more
Oral agreements to partition lands are tricky situations that must be dealt with carefully when analyzing the title to a piece of property. Known legally as parol partitions, these agreements often arise in the context of...more
Peet v. Checkett (In re Peet), 529 B.R. 718 (8th Cir. BAP 2015) – A chapter 7 trustee proposed to sell real and personal property that was owned by the chapter 7 debtors as joint tenants with parents of one of the...more
What is the difference between a Deed of Trust and a Mortgage? The terms “Deed of Trust” and “mortgage” are often used by people interchangeably. Both serve to give the lender a lien as collateral for a loan but, these...more