Home Buying in SoMa>Question Details

Maryann Bates, Real Estate Pro in Cascade, CO

i own a share in a condo with siblilngs, if i die who gets my share

Asked by Maryann Bates, Cascade, CO Fri Apr 16, 2010

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Erika Burke’s answer
Don Tepper below gave the straight up answer. You can ask your favorite real estate consultant to have a title company conduct a title search for you to determine how you did receive the property and note that these records will be held in your city or county assessors office for your review.

Additionally - the agent and the title company should have written material explaining methods of holding title and what they mean. There may be other things you can do, with everyones agreement to change the way in which you hold title, to make sure it works for all parties. That is a question an estate planner, attorney, escrow office and/or real estate consultant may be able to answer or make the property reccommendation so that you can get the right answer and move in the right direction.
0 votes Thank Flag Link Tue Apr 20, 2010
Robin's correct.

If it's held as tenants in common, your share goes to whoever you specified in your will.

If it's held as joint tenants, your share goes to the surviving owners.

Hope that helps.
0 votes Thank Flag Link Fri Apr 16, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
It depends on how you took title, whether it is tenants in common, or joint tenants. In one, your heir will inherit your share. In the other, your siblings would divide up your share. Look at your deed to see what it says. If it does not follow your wishes, discuss this with your siblings and change the deed if you need to.
0 votes Thank Flag Link Fri Apr 16, 2010
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