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But some states still require the property to go through probate if the surviving heir is not in co-ownership of the house, even if you have it clearly stated in your will, according to Garvens.
In property law and real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of the property. Future interests are created on the formation of a defeasible estate; that is, an estate with a condition or event triggering transfer of possessory ownership. A common ...
Credit cards. Credit cards can work fine for smaller improvements, but watch out for high interest rates. Consider using a 0% intro APR credit card to pay for expenses so you can make the most of ...
Properties that are sold on the basis of equitable title have a legal chain of title intact, and a recorded transfer with the local municipality. Legal title is actual ownership of the property as when the property has been bought, the seller paid in full and a deed or title is properly recorded. Equitable title separates from legal title upon ...
Tax planning: Property owners may transfer equity to their children or other family members to manage their tax liabilities. Transferring equity can be complex, involving land registry applications and stamp duty land tax forms. In these circumstances, a transfer of equity usually involves a conveyancing practitioner to deal with the formalities.
Some homeowners might be tempted to save on paying a commission and instead sell their home themselves, without an agent. This is known as “for sale by owner.” The amount sellers stand to save ...
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