It's pertaining to real estate.
I'm writing my own offer with no buyer agent, and I'm trying to make sure I understand it all.
2007-02-19 06:18:39 · 6 answers · asked by JoeIQ 4 in Business & Finance ➔ Renting & Real Estate
does anybody know where I can download real estate forms, like purchase agreements? I have some, but I'm not satisfied with them.
2007-02-19 08:10:51 · update #1
Joint tenancy: One person dies, the other gets their half of the property automatically, no probate hearing.
Tenancy in common: One person dies, his/her stake in property goes to the heirs, as provided for in a will or through probate.
Joint is used most commonly for married couples. TIC is best for investors, non-married partners, perhaps older married couples with kids from previous marriages.
If it's just you buying, neither apply.
2007-02-19 09:18:52 · answer #1 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
Is there any way you can provide a little more detailed info as to the way the term "joint tenancy" is used and what type of real estatate situation?
Typically this phrase is used to clarify joint financial holdings. If that is the case here then it would mean that 2 people are equal owners of whatever, but if one dies than the money/property then passes to the surviving tenant (versus next of kin of the decendent).
But I am not sure if that is what you are referring to. For example a roommate situation would be 100% different.
Not sure if this helped or not. Hope so....if not if you can clarify I can see if I know anything that can be more useful.
2007-02-19 06:35:26 · answer #2 · answered by FineWhine 5 · 0⤊ 0⤋
There are only two types of tenancy that you need to be concerned with:
Joint tenancy: when two or more people own property as joint tenants and one owner dies, the other owners automatically own the deceased owner's share.
Tenants in Common: tenancy in common is defined as concurrent ownership such that owners have distinct but undivided shares in the same property.
The major difference between tenants in common and joint tenants is that there is no right of survivorship with tenants in common.
2007-02-19 06:30:58 · answer #3 · answered by Michael 4 · 0⤊ 0⤋
You should have a Realtor represent you. They will protect you interest and guide you through the process. It takes more that writing an offer to make sure that you have a good deal. Realtors represent buyers and sellers this is what they do for a living. If you are buying a home, the Realtor will be paid by the seller, if they (the seller) are offering a commission.
2007-02-19 07:42:26 · answer #4 · answered by loladrewblue 4 · 0⤊ 0⤋
No, it's not a Clintonian wag the dog thing. You can actually enact a domestic agenda while engaged in foreign wars. And homosexual marriage actually does have a negative effect on heterosexual marriage rates, leading to more children growing up in less stable households, and then more single-parent households and all the social problems those bring. Based on empirical studies of European nations who premit homosexual marriage. That's what happens when you unthinkingly mess with the institution that has been the basic building block of society, government and civilization for millenia.
2016-05-24 10:49:32 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Husband and wife in most states. It is actually JOINT Tenants With Rights of Survivor ship. If one dies the other gets the home and of course the mortgage that is on it. Most states are dower states
2007-02-19 06:28:56 · answer #6 · answered by golferwhoworks 7 · 0⤊ 1⤋