Classes from the Tillotson Property – New York Property Planning Lawyer Weblog – Might 10, 2021
In the most recent case of Texas by In Re Estate by TillotsonThe administrator of the deceased person’s estate filed a motion to have the deceased person’s husband surrender the deceased person’s common property interest in multiple accounts. When the court granted the motion, the surviving spouse appealed.
The appeals court found that the administrator had the authority to file an application for the division of common property. The appeals court found that the state’s Probate Act provides that an executor or administrator may request the division and distribution of an estate by filing a written request. The court also found that if an intestated deceased spouse survived a child, the deceased spouse’s undivided half-interest in the common property would pass to the deceased spouse’s children.
The appeals court then discussed the Texas estate code that allows a surviving spouse to file for division, but found that that code does not grant that right solely to the surviving spouse. As a result, the appeals court upheld the court’s order.
The role of the joint tenancy under national law
Joint tenancy is a particularly common form of ownership in the United States. Property owners, referred to as joint tenants, each own part of an undivided property. One reason this type of property is so common is that if a person dies without a will or a document describing how property should be handled, that person dies as an intestine and their property is sold according to a set series of “ intestated “laws is passed on. Often times, this means that when a person dies in the gut, any property the deceased owns will be passed on to heirs who will become joint tenants.
How New York State deals with real estate partitioning
The State of New York deals with the division of property in its Uniform law on the division of heir property. This law was created to protect property owners who recently inherited property from real estate. The law requires a settlement conference before an heir’s property can be divided up. The law also requires that the parties to these conferences behave in good faith.
The law defines shared properties as properties for which, at the time of submitting a division, no agreement has been made to share the property and one of the co-tenants has obtained ownership of the property from a relative. In addition, either 20% or more of the shares must be held by co-tenants who are relatives, 20% or more of the shares must be held by a person who acquired the title from a relative, 20% or more of the co-tenants must be relatives of each other , or every co-tenant who has received the title from a relative must live on the property. Ultimately, it is up to a court to determine whether a property meets these conditions.
Contact a skilled estate planning attorney today
If your loved one has any questions or concerns about the estate planning process, don’t hesitate to speak to a compassionate attorney. Contact Law firm Ettinger today to schedule a free case assessment.