How can I make sure that my wife will inherit a property that I am a co-owner of?
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How can I make sure that my wife will inherit a property that I am a co-owner of?
I was deeded property from my mother with my sister as co-owner. The deed stipulates that in the unforeseen death of one of us, the other would inherit the property. I would like to know if there is a way to insure that my wife would inherit this property in the event of my death without making out a new deed?
Asked on September 10, 2014 under Estate Planning, New York
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
From what it sounds like here it seems that you and your sister own the property "with rights of survivorship" meaning that in the event with of you passes the other inherits the entire property outright. Only the survivor will have the ability to will the property to another. If neither of you wishes that then speak with a lawyer about same. Good luck.
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