planning, wills and trusts aren’t everything.
Homeowners who want to be sure the home passes to the desired beneficiary must be sure the property is correctly vested.
common example. If you co-own property with a right of survivorship, your
interest cannot be willed to any other party. The person who survives automatically
in your interest.
review this and other consequences of the vesting of real estate.
Continue reading “How’s Your Property Vested? It Matters as Much as Your Will or Trust”
limited liability companies, or LLCs, can hold real estate for tax
advantages or avoidance of the probate process. Some homeowners work in
high-risk careers or own their businesses, and wish to keep the home from
becoming vulnerable to lawsuits.
briefly summarize key options.
Continue reading “Holding Real Estate in a Trust-Or an LLC”
Title vesting is the way an owner (or owners) of property
takes title to their real estate. The way that title is held will affect what
the owner (or owners) can do with the property during his or her lifetime, and
will also determine whether or not the property has to go through probate
proceedings upon the owner’s death.
When a deed is written for real property, the ownership is
described using the owner’s name and a descriptive phrase for the legal
relationship between multiple owners or married people. Vesting decisions will
vary from state to state.
Continue reading “Types of Vesting Related to Real Estate Ownership”
The Nevada statutes identify three primary ways for
two or more people to hold title to real property: tenancy in common, community
property, and joint tenancy (NRS §§
Continue reading “Vesting options for Co-Ownership of Nevada Real Estate”