Ask Experts Questions for FREE Help !
Ask
    Chris wb's Avatar
    Chris wb Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 28, 2017, 10:47 PM
    inheriting property
    If two siblings each own half the house and one dies does the other inherit automatically the other half
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    May 29, 2017, 04:58 AM
    First, please do not piggyback your question on another thread. I've moved your question to its own thread.

    That depends on how the title reads. There are basically two types of ownership, Tenants in Common and Joint Tenants with Right of Survivorship. In the first, each owner is separate and their share of the property goes to their estate. In the second, ownership passes to the survivor.

    This was actually explained in the thread you originally posted to, didn't you read it?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Inheriting and then Selling property abroad [ 1 Answers ]

There must be many descendants of Survivors living in the USA who locate property that belonged to their parents in Poland, and then seek to inherit it and then sell it. That is what I did. Well, the sale is pending. I will consider the central question here first. For the further complications,...

Inheriting property nys [ 2 Answers ]

My husband inherited a house in 2007. Value (per assessor $72,300). After fixing up the home he started renting it in January 2008. He sold the home January 1, 2009 with closing in February 2009. Home sold for $60,000. We now need to file the final taxes on this property. Can we take a loss...

Inheriting Foreign Property [ 3 Answers ]

My question involves taxation on inherited property abroad. My grandfather, a non-US national, left me a house in India several years ago. I sold the house many years later, presumably for a gain from what the house was worth at the time of death. The proceeds were invested in a tax-free...

Inheriting Real Property [ 3 Answers ]

My husbands dad has a home on land that he has owned outright for many years. My husband is the executer of his will. His dad would like to transfer the property into my husbands name before he dies. Is there any tax advantage to that? If he doesn't, when my husband inherits the property, what...

View more questions Search