Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
1,885,511,640 visitors served.
forum mailing list For webmasters
?
New: Language forums
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Joint Owned Property

    0.02 sec.
Joint Owned Property
A property with more than one owner in which all owners have rights of survivorship. In other words, when one owner of a jointly-owned property dies, the property does not become part of the decedent's estate; rather, the other owners continue to own the property. A couple may jointly own their home, for example. Likewise, two business partners may jointly own a business property: if two persons own an apartment complex and one of them dies, the whole of the complex belongs to the co-owner, and not the decedent's heirs. It is important to note, however, that the decedent's liabilities may remain attached to this property and may be used to pay off creditors, even if the creditors had nothing to do with the property in question.


How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
? Mentioned in
No references found
 
Financial browser? ? Full browser
 
 
Financial Dictionary
?

Disclaimer | Privacy policy | Feedback | Copyright © 2010 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.