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Sharing ownership of a property with another person (or persons) can be legally established in a number of different ways. One possible legal arrangement is through tenancy in common, which allows ...
t. e. In property law, a concurrent estate or co-tenancy is any of various ways in which property is owned by more than one person at a time. If more than one person owns the same property, they are commonly referred to as co-owners. Legal terminology for co-owners of real estate is either co-tenants or joint tenants, with the latter phrase ...
e. In common law and statutory law, a life estate (or life tenancy) is the ownership of immovable property for the duration of a person's life. In legal terms, it is an estate in real property that ends at death, when the property rights may revert to the original owner or to another person. The owner of a life estate is called a "life tenant".
The rule against perpetuities is a legal rule in common law that prevents people from using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long beyond the lives of people living at the time the instrument was written. Specifically, the rule forbids a person from creating future ...
The impact will be swift. With less than two weeks until a partial government shutdown, the House of Representatives is expected to vote on a bill today that combines a must-pass spending bill ...
O will have a one-year interest, that will spring/be cut short one year after A's death, and will go to B, the grantee. Suppose B is 15 years old. Example: "O grants Blackacre to A for life and one year after A's death, to B if B reaches the age of 25 years." Analysis (O): O has a reversion (see above), since there is a one-year gap between A's ...
Here's what typically happens to plastic in the afterlife: Your estate pays the debt. After you die, credit card companies become creditors to your estate. If there are sufficient assets in the ...
Simultaneous death. Simultaneous death is a problem of inheritance which occurs when two people (sometimes referred to as commorientes) die at, or very near, the same time, and at least one of them is entitled to part or all of the other's estate on their death. This is usually the result of an un-natural death occurring from events such as an ...