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My grandmother has three children. If my grandmother lives in a house that is in her and her sons name, but she says that in her will everything will be divided three ways, won't the one son that has his name with hers on the house own the house?
You really need to ask this of an attorney. How i would view it, the house is half owned by mom and son since both on title. Mom can give her half to anyone but son owns other half.
You are asking a legal question on a mortgage forum. State laws, in addition to title come into play. It depends upon what is in the will and and what was the intent and purpose of the one son being on title. How is title held? And there is nothing saying the other two children couldn't sue, especially if she has been telling everyone for the past 10 years it will all be split three ways.
Yep, an attorney question so don't put book this. Depends strongly on how the title is held. If joint tenants (on the title) then the son would get the house as it would pass outside of probate. If tenants in common, then he would get 1/3 of her 50% ownership he would own 4/6 total. Each of the others would get 1/3 of her 50% making them 1/6 owners each. There can be a whole lot of other issues involved (including different state laws) that can change these numbers so it is always best to get an attorney involved in estate planning/probate issues.
If they own the house as tenants in common, grandma's undivided 1/2 interest will be distributed under her will. Son's undivided 1/2 interest stays with son. If they own the house as joint tenants with rights of survivorship, grandma's joint interest goes to son and he owns the whole place.
If they own the house as tenants in common, grandma's undivided 1/2 interest will be distributed under her will. Son's undivided 1/2 interest stays with son. If they own the house as joint tenants with rights of survivorship, grandma's joint interest goes to son and he owns the whole place.
Absolutely correct! It is rare however that joint tenancy outside of husband and wife is "with rights of survivorship". Look at the deed, and if you see "JTWROS", it'll be all his...
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