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Author Question: Why would someone want to include the real property they own in a life estate? What will be an ... (Read 92 times)

Cooldude101

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on: Jul 26, 2018
Why would someone want to include the real property they own in a life estate?
 
  What will be an ideal response?

Question 2

Explain why joint tenancy would be a contentious form of ownership if a married couple is divorcing and one of them would like to sell their home and the other person does not want to sell the house.
 
  What will be an ideal response?


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cswans24

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Reply #1 on: Jul 26, 2018
Answer to Question 1

The reason someone might want to include real property they own in a life estate would be because they do not want to transfer the property to their beneficiaries yet they want the beneficiaries to be able to use the property during the beneficiaries lifetime.

Answer to Question 2

Joint tenancy could be a contentious form of ownership when there are divorces because if only one spouse wants to sell the property the property would have to be partitioned and sold by the court system.


Cooldude101

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Reply #2 on: Jul 26, 2018
Thank you!


cswans24

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Reply #3 on: Jul 26, 2018
Always glad to help...


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