Results 1 to 2 of 2
  1. #1
    Join Date
    Sep 2016
    Posts
    13,916

    Default Can a Co-Owner Give Somebody a Life Estate in His Will

    If you co-own a home with another person as joint tenants with a right of survivorship, can the other co-owner leave somebody a life estate to his share of the property in his will?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Can a Co-Owner Give Somebody a Life Estate in His Will

    If this is in fact a joint tenancy with right of survivorship (JTWROS), the surviving co-owner will become the sole owner of the property outside of probate. Even if the will contains a provision that attempts to leave the deceased co-owner's share to another person, or attempts to create a life estate in that share, the real estate won't be an asset in the probate proceeding and the gift will fail.

    However, it is possible to break a JTWROS by conveying your share to another person or entity so, for example, it would be possible for the person to convey their share to a trust, thereby converting the JTWROS to a tenancy in common, and giving an heir rights to the undivided half-interest that is possessed by a tenant in common.

    1. Sponsored Links
       

Similar Threads

  1. Life Estates: Life Estate vs. Owner's Rights
    By HyeLaw in forum Real Estate Ownership and Title
    Replies: 9
    Last Post: 01-19-2012, 04:51 PM
  2. New Owner of Life Estate
    By mominmendo in forum Estate Planning, Administration and Probate
    Replies: 1
    Last Post: 01-20-2010, 06:03 PM
  3. Life Estates: Rights of Life Estate Owner
    By 1irishprince in forum Real Estate Ownership and Title
    Replies: 1
    Last Post: 08-02-2009, 09:57 AM
  4. How to Give Somebody a Life Estate
    By Mr Tony in forum Estate Planning, Administration and Probate
    Replies: 1
    Last Post: 04-01-2009, 10:07 AM
  5. Life Estates: Can You Give Life Estate on a Land Co-Owned?
    By kelly in forum Real Estate Ownership and Title
    Replies: 2
    Last Post: 10-10-2008, 06:53 AM
 
 
Sponsored Links

Legal Help, Information and Resources