Will vs Courts?

[nextwife]

It doesn't matter who has the policy as to the ANSWER you need. You're not making a claim!

Just ask them to clarify IF the manner in which you hold title would mean that the deceased co-owner interest passes to the surviving co-owner OUTSIDE probate. Surely their title attorney would know the answer. After all, their responsible for knowing whose interests need to be discharged to pass good title.

 

[justalayman]

Not sure OP understands what she is looking for.

You want to look at the deed to the property.

It often states John Doe and Jane Doe, as tenants in common or John Doe and Jane Doe and joint tenants (and sometimes adds "with rights of survivorship)

the title policy and the mortgage are they may include how title is held (which is a function of the deed and only the deed) Nothing else conveys property and makes the type of ownership what it is.

 

[nextwife]

All she needs is a copy of her vesting deed, or her copy of the title policy showing exactly who the insured parties are on Schedule A.

 

[tuffbrk]

The schedule A shows the mortgage co, then separately shows myself and STBX listed only as H & W. According to a title agent that I spoke to if it only says H & W without anything else, it is considered to be joint tenancy with right of survivorship. She said if there's a will - it would need to specifically state the property as noted on the title and the surviving tenant would needed to have signed off as the survivng tenant maintains their interest as well as the deceased's....does that sound right?

 

[tuffbrk]

Hmmm....looking at the mortgage it says - XXXX, Married and YYYY, married - it doesn't say husband and wife and I don't see anything related to tenancy (sigh...) on it.

 

[seniorjudge]

Q: The schedule A shows the mortgage co, then separately shows myself and STBX listed only as H & W. According to a title agent that I spoke to if it only says H & W without anything else, it is considered to be joint tenancy with right of survivorship. She said if there's a will - it would need to specifically state the property as noted on the title and the surviving tenant would needed to have signed off as the survivng tenant maintains their interest as well as the deceased's....does that sound right?

A: Kind of. Husband and wife actually hold title as tenants by the entirety in some states. It is a joint tenancy with right of survivorship between spouses. I don't know if your state has that or not.

A good will is written to where it will cover all property (personal, real, or mixed) owned by the person who wrote the will when he or she dies. Generally, specific lists of property are not made in wills. (There are LOTS of exceptions to that last statement.)

But if a jointly held piece of property is owned by two people and one dies, the property goes to the other regardless of what is in the will (as has been mentioned several times).

 

[tuffbrk]

Thank you! That clears my emotional "plate" quite a bit. Frankly, I'm overwhelmed, stressed and having difficulties focusing. Knowing we're "covered" for right now at least allows me to breathe and provides the opportunity to have the issue of ensuring there are funds for my children, in a worst case scenario, addressed as part of my divorce. Anything happens pre-divorce, I at least don't have to worry that his mom will take steps to evict me and our sons in order to get money for "his" half of the equity in the house. Thanks again....