From 9065e869a88334558c8ea38e357489c6c3bf362e Mon Sep 17 00:00:00 2001 From: kathyfollett25 Date: Wed, 3 Dec 2025 03:28:54 +0800 Subject: [PATCH] Add Who would be the Other Buyer? --- Who-would-be-the-Other-Buyer%3F.md | 75 ++++++++++++++++++++++++++++++ 1 file changed, 75 insertions(+) create mode 100644 Who-would-be-the-Other-Buyer%3F.md diff --git a/Who-would-be-the-Other-Buyer%3F.md b/Who-would-be-the-Other-Buyer%3F.md new file mode 100644 index 0000000..fde482b --- /dev/null +++ b/Who-would-be-the-Other-Buyer%3F.md @@ -0,0 +1,75 @@ +
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Real Estate Law +
I want to discover more about joint occupancy and tenancy in typical and if it's a choice for me. I have a good portion of
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A "Tenancy in Common" is where each owner of the residential or commercial property has actually an divided one half ownership interest in the [residential](https://realestate.zoeay.com) or commercial property. That means the one of the owners can sell his or her one-half interest in the residential or commercial property with or without the other owner's authorization. Should among the owners die, their half ownership would have to be probated, and their successor would inherit that a person half of the residential or commercial property.
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" Joint Tenants with Rights of Survivorship" means that you each own an undistracted one- half ownership interest. When or if among the owners dies, the staying owner inherits the deceased's share or interest of the residential or commercial property.
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You are most welcome! Thank you for [contacting](https://www.manornd.ca) Just Answer. Any future legal questions, please asl for "Jan just" or add me to your favorites at the bottom of the page. Good luck with whatever you choose to do.
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My best desires,
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Jan
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Real Estate Lawyer: Jan
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You are most welcome!
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10,059 pleased customers
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Understanding Joint Tenancy vs Tenancy in Common for Residential Or Commercial Property Ownership
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My name is ***** ***** i am a Realty attorney with Just Answer with over thirty years of experience. I more than happy to help you with your real estate questions.
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What are your concerns about joint tenancies.
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Who would be the other purchaser?
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A " Tenancy in Common " is where each owner of the residential or commercial property has actually an divided one half ownership interest in the residential or commercial property. That indicates the one of the owners can sell his or her one-half interest in the residential or commercial property with or without the other owner's authorization. Should among the owners die, their half ownership would need to be probated, and their beneficiary would inherit that one half of the residential or commercial property.
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" Joint Tenants with Rights of Survivorship " means that you each own an undivided one- half ownership interest. When or if among the owners dies, the [staying owner](https://houses4salekenya.com) acquires the deceased's share or interest of the residential or commercial property.
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The bank or mortgage business would have to approve both of you for a mortgage.
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You would need to ask the loan officer of the bank. However, the person on the mortgage does not [establish ownership](https://zenithdreamhomes.com). Only the names of the deed to the home establishes legal [ownership](https://www.imobiliaremogosoaia.info).
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Having more than two owners of a home is never ever a good idea. Even 2 owners can be a problem, in case you want to offer your house or re-finance it. You would have to get all of the owner's permission to offer or .
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There is no [real title](https://circaoldhouses.com) to a home. Cars have titles, houses have Deeds that are the legal ownership of any realty residential or commercial property.
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Homeowners can not get half of a [mortgage](https://propiinn.com) or half of the insurance. The mortgage and insurance is for the entire house.
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[Tenants](https://buildhomesre.ae) in typical still own your home together with the other owner. Houses can not be divided.
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Except when one occupant in common wants to offer their share in your house. Then the other owner has no state in who is the brand-new joint owner.
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This is usually a bad method to own a house.
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Did I address your all of your [questions](https://itudo.com.br)?
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The finest methods to purchase a home is either on your own or with a partner.
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The more owners you have on the deed to your home, the more most likely you are to be in conflict with them over maintenance, taxes, and maintenance and getting the other person to accept offer the house.
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Plus relocating other individuals. You need to probably try rather to establish a strong employment record and then request a mortgage loan.
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Do you have any follow up concerns?
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I am sorry, however I leave all of that to your banker. [Attorneys](https://penangproperty.net) are versed in the law and not the eligibility for a mortgage.
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Your credit report is very important too.
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Any other legal questions for me?
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You are most welcome! Thank you for contacting Just Answer. Any future legal concerns, please asl for " Jan only " or add me to your favorites at the bottom of the page. All the best with whatever you decide to do.
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