Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on TwitterFollow AgentsOnline on Facebook

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityCelebrating 13 years as one of the internet's most popular Real Estate Communities!

Good Ideas
Nusetlock.com




REO Prep Foreclosure Listings




BPO REO Secret System




How To Advertise Here

More Good Ideas!
real estate newsletters


Real Estate Websites for Realtors




Build your brand on a Real Estate Site





Facebook
Topic Options
Rate This Topic
#35479 - 06/23/05 07:21 AM Legalities around owning 2 houses beside/attached to each other
Anonymous
Unregistered


Hi,
My wife and I own 2 semi-detached houses attached to each other, which were purchased prior to us getting married. Now that we are married, is there anything we need to be concerned with regarding the legal aspects of owning abutting houses?

I hope this makes sense, because it doesn't to me. Someone just told me that I should be concerned.

Thank you,
Matt

Top
#35480 - 06/23/05 08:13 AM Re: Legalities around owning 2 houses beside/attached to each other
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
The only concern you should have would be how the ownership of those houses is titled and what you would want to happen to them in the event you or your wife should die.

If you would want you or your spouse to inherit should one of you pass away the best way for married people to hold title to real property is called: "Tenants by the Entireties". The second best way would be "Joint Tenants in Common with Right of Survivorship".

Either way would cause the real property to automatically go to the surviving spouse.

Of course you should also each have your own will spelling out your wishes in the event you should both die in a common disaster regarding the houses and the rest of your estate.

Most lawyers can draw up a simple will for each of you for a few hundred dollars.

You'll sleep better at night after doing it.
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

Top






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Good Ideas!
real estate newsletters




How To Advertise Here

Sponsors

Newest Members
CourtneyFields19, theshortsaledude, toorgeman123, D best Realtor, Nilufar Yeasmin
21439 Registered Users
Who's Online
4 registered (REOinArizona, mmmm3, pjm, 1 invisible), 163 Guests and 1 Spider online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Vermont 80
KingofBPOs 55
Brit16 51
DueDiligence 37
super realtor 36
Bigtoe 35
Averis 34
johnnyloans 34
SoldWithVideo 32
Kjmendy 29
RIzwan 29
Scintillion 25
75Corvette 25
Doin' bpose 24
shurdul 24
(Views)Popular Topics
No new orders today 4757804
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 2707733
Stupid MLS comments. 959069
EML 458010
Evalonline 299689
What do you know about Froy Candelario, top agent in USA 291067
Land America 285007
New HUD Listing Brokers---Any Update? 269752
Mainstreet 261768
Pay it Forward - BPO/REO Tips & Tricks I & II 239419
Stupid QC comments and BPO requirements. 230718
Is there religious content in Buffini class? 225895
FARVV 177251
REOTRANS 160812
Let's talk about our cars 147766
USRES / RES.NET 147658
asset val seminar in colorado 144137
AVM Bpos 139643
FARVV 126764
PAS 118332
Featured Member
Registered: 02/29/08
Posts: 22

How To Advertise Here


This site presented by RNC Internet Services