Elderly couple urged to rethink real estate title
If title isn't fixed, offspring see inheritance trouble
By Benny Kass, Wednesday, July 2, 2008.Q: My parents (now in their 80s) own a small apartment building with my brother and his wife. Title is held as joint tenants with right of survivorship. When the property was initially purchased, they agreed that this would be a 50/50 partnership. Both couples also agreed that if they died, their respective 50 percent share would go to their respective estate and not to the remaining partners. I have two questions:
Shouldn't they have the title redrawn as tenants in common so as to accomplish what they initially intended?
more...
All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.

