Posted on: November 7, 2024
One common way to avoid the probate requirement for real estate after the owner dies is to add children or other individuals to the property title as joint owners with rights of survivorship. When joint owners have survivorship rights, and one joint owner passes away, the remaining owners automatically receive the entire interest of the […]
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Posted on: September 9, 2024
People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate. Also, joint property […]
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Posted on: May 16, 2024
More young adults live at home with their parents today than ever since the 1940s. While there are many different opinions about this trend and the cause of its recent prevalence, the primary motivation for young adults staying at home with their parents is usually related to finances. Most adult children still at home plan […]
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Posted on: April 1, 2024
Introduction When safeguarding your family's future, understanding the nuances of estate planning is paramount. For Austin professionals, this task has become more intricate with the introduction of the FinCEN real estate reporting requirements. This guide will walk you through what these changes mean for your estate planning efforts and how to ensure your plan remains […]
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Posted on: February 15, 2024
Like the rest of your debt, your mortgage does not simply disappear when you die. Suppose you leave your home with an outstanding loan to a beneficiary in your will or trust. Your beneficiary will inherit the property and the outstanding debt in that case. They may have the right to take over the mortgage […]
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Posted on: September 11, 2023
As Lady Bird deeds grow in popularity, it is important to discuss and understand the benefits and limitations of these deeds.
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Posted on: August 27, 2023
A deed is a legal document that transfers real property ownership rights from one person or entity (the grantor) to another (the grantee). In many cases, this transfer occurs because the property is sold, with the seller transferring the property to the buyer. Typically, a deed is recorded with the local county recorder of deeds. […]
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Posted on: July 27, 2023
When multiple generations live on the same property, issues over ownership, who inherits what and who provides what can get complicated fast.
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Posted on: April 3, 2023
For many parents, transferring real estate to their children is an important part of their estate planning process. There are several ways that parents can do this, each with its own advantages and disadvantages.
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