If 2 siblings jointly own a property, what happens to the ownership if 1 of them dies?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If 2 siblings jointly own a property, what happens to the ownership if 1 of them dies?
One sibling is married and has children. The other sibling is not married but has children. If the married sibling dies, does the spouse then assume 50% ownership in the property. And likewise, if the single person dies, does the property transfer to the children through Probate, or does the property transfer to the other owner? We ask because we are wondering if we need a separate legal agreement that directs what happens to the property if one of the owners dies.
Asked on January 9, 2018 under Real Estate Law, Wisconsin
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
It depends just how the deed is written. If it has both of your names followed by the words, "with rights of survivorship", then you own the property as "tenants-in-common". This means that upon the death of one of you, the other automatically becomes vested with 100% ownership of the property. If, however, there is no survivorship designation, then you own the property as "tenants-in-common". This means that upon the death of one of you, that person's share will becomes an asset of their estate and will pass accordingy to the terms of their Will or, if there is no Will, pursuant to state intestacy law.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
It depends just how the deed is written. If it has both of your names followed by the words, "with rights of survivorship", then you own the property as "tenants-in-common". This means that upon the death of one of you, the other automatically becomes vested with 100% ownership of the property. If, however, there is no survivorship designation, then you own the property as "tenants-in-common". This means that upon the death of one of you, that person's share will becomes an asset of their estate and will pass accordingy to the terms of their Will or, if there is no Will, pursuant to state intestacy law.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.