In the eyes of the law, your home is a collection of several types of property along with their associated property rights. When the time comes to pass your home on at your death, the law, rather than any sentimental attachments or fond associations with the house, is what matters.
While a house can be a generous gift that might seem like a windfall, the financial and practical realities of owning a home can quickly turn that gift into a burden for heirs who are not fully prepared.
From unrecorded deeds to accounts held solely in a deceased spouse’s name, many people discover too late that what they thought they owned is not legally theirs. When that happens, the fallout can be costly, time-consuming, and deeply disruptive.
Living abroad is very different from spending a few weeks there. In addition to the challenges of adapting to a foreign culture, prospective buyers must be aware of the financial, legal, and tax implications of buying real estate abroad before signing the dotted line.
From laws against selling doughnuts on Sundays to ordinances that prohibit tying a giraffe to a telephone pole, the annals of American jurisprudence are filled with archaic laws that, while still technically on the books, are rarely, if ever, enforced.
Rising housing costs, the desire for companionship, and the need to share resources are increasingly leading buyers to consider co-owning a home with someone other than a spouse, such as
Your mortgage does not simply disappear when you die. A few different scenarios can unfold, depending on the estate plan instructions.