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Generally, if title to real property has become fractional due to successive probates, the title should be examined by a professional who knows how to determine the descent of the fractional interests by use of a flow chart and according to state probate laws.
For example:
Grandmother left her property to her two children, Virginia and Sheila, or their issue if they predecease her. Virginia predeceased her mother, leaving six children who are all living. Therefore, Sheila inherited a one-half interest and Virginia's children inherited her 1/2 interest which they will share equally. Each inherited a one-twelfth interest. If one of Virginia's children was predeceased but was survived by two children they would inherit that 1/12 interest to share and each would own a one-twenty-fourth interest. With several estates it can become extremely complicated with interests in the 1/500 range or worse!
If the fractional interest was created by deed then you would simply use the number of grantees to determine everyone's interest unless another scale is specifically recited in the deed.
For example:
Suppose a property was conveyed by deed to three people, Abraham, Martin and John. Each would own a one-third undivided interest in the property. Each would have the right to the use and possession of the whole property.
The property could also be conveyed with unequal interests if those interests are clearly explained in the deed: A one-half undivided interest to Abraham and a one-half undivided interest to be shared by Martin and John. Martin and John would each own a one-quarter interest but again, all the grantees would have the right to the use and possession of the whole property.
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Can you convey an undivided interest in less than a full interest?
Yes. A person who owns 100% interest in property can convey any fractional interest to one or more people. A person who owns a fractional interest in property can convey that interest. An undivided interest means that anyone with a fractional interest in the property has the right to the use and possession of the whole property. If that property is sold or partitioned they are entitled to their fractional share in the net proceeds. If they die their heirs are entitled to their fractional share unless it is owned by the right of survivorship.Just remember that deeds should always be drafted by an attorney who can explain the options, explain the consequences and draft a proper deed for your jurisdiction. Errors made by non-professionals can be costly to correct if they can be corrected and once the owner signs a deed they cannot undo it.Yes. A person who owns 100% interest in property can convey any fractional interest to one or more people. A person who owns a fractional interest in property can convey that interest. An undivided interest means that anyone with a fractional interest in the property has the right to the use and possession of the whole property. If that property is sold or partitioned they are entitled to their fractional share in the net proceeds. If they die their heirs are entitled to their fractional share unless it is owned by the right of survivorship.Just remember that deeds should always be drafted by an attorney who can explain the options, explain the consequences and draft a proper deed for your jurisdiction. Errors made by non-professionals can be costly to correct if they can be corrected and once the owner signs a deed they cannot undo it.Yes. A person who owns 100% interest in property can convey any fractional interest to one or more people. A person who owns a fractional interest in property can convey that interest. An undivided interest means that anyone with a fractional interest in the property has the right to the use and possession of the whole property. If that property is sold or partitioned they are entitled to their fractional share in the net proceeds. If they die their heirs are entitled to their fractional share unless it is owned by the right of survivorship.Just remember that deeds should always be drafted by an attorney who can explain the options, explain the consequences and draft a proper deed for your jurisdiction. Errors made by non-professionals can be costly to correct if they can be corrected and once the owner signs a deed they cannot undo it.Yes. A person who owns 100% interest in property can convey any fractional interest to one or more people. A person who owns a fractional interest in property can convey that interest. An undivided interest means that anyone with a fractional interest in the property has the right to the use and possession of the whole property. If that property is sold or partitioned they are entitled to their fractional share in the net proceeds. If they die their heirs are entitled to their fractional share unless it is owned by the right of survivorship.Just remember that deeds should always be drafted by an attorney who can explain the options, explain the consequences and draft a proper deed for your jurisdiction. Errors made by non-professionals can be costly to correct if they can be corrected and once the owner signs a deed they cannot undo it.
What is meant by fractional distribution of an estate?
A fractional interest is a portion of the estate that is less than the whole. For example, if there are four children who are to share equally then each one has a 1/4 fractional interest in the estate.
Can you sell your house without your husbands consent you have been divorced for 6 years and you have paid the mortgage?
If your ex-husband has an interest in the property then he must sign the deed. You need to review your divorce decree to determine if there are any provisions that would affect the sale of the property.If your ex-husband has an interest in the property then he must sign the deed. You need to review your divorce decree to determine if there are any provisions that would affect the sale of the property.If your ex-husband has an interest in the property then he must sign the deed. You need to review your divorce decree to determine if there are any provisions that would affect the sale of the property.If your ex-husband has an interest in the property then he must sign the deed. You need to review your divorce decree to determine if there are any provisions that would affect the sale of the property.
Can the joint property holder transfer the property?
Generally, they can transfer their own interest in the property but not the interest of the other co-owner.Generally, they can transfer their own interest in the property but not the interest of the other co-owner.Generally, they can transfer their own interest in the property but not the interest of the other co-owner.Generally, they can transfer their own interest in the property but not the interest of the other co-owner.
Do co owners in fee simple each own 100 percent of the property or 50 percent each?
Although all classes of co-owners in fee simple may own a fractional interest in the whole property, each co-owner has the right to the use and possession of the whole property. That right to the use and possession of the whole property is what we call an undivided interest. The fractional interest would come into operation as the share of the proceeds if the property was sold or as a percentage of rentals and profits.For example:Suppose Nate and Ryan own a cabin as tenants in common. Each has the right to the use and possession of 100 percent of the property. If the property was sold, each would be entitled to 50 percent of the proceeds. If the property is rented out each would be entitled to half the net proceeds. The same would apply to joint tenants and modern tenants by the entirety.
Do co-owners in fee simple each own 100 percent of the property or 50 percent each?
Although all classes of co-owners in fee simple may own a fractional interest in the whole property, each co-owner has the right to the use and possession of the whole property. That right to the use and possession of the whole property is what we call an undivided interest. The fractional interest would come into operation as the share of the proceeds if the property was sold or as a percentage of rentals and profits.For example:Suppose Nate and Ryan own a cabin as tenants in common. Each has the right to the use and possession of 100 percent of the property. If the property was sold, each would be entitled to 50 percent of the proceeds. If the property is rented out each would be entitled to half the net proceeds. The same would apply to joint tenants and modern tenants by the entirety.
How do you determine the fractional part of a group?
Leave at least one element of the group and take the rest. You will have a fractional part of the group.
Can a co-signer be removed from a title?
No. Not unless they transfer their interest in the property voluntarily.No. Not unless they transfer their interest in the property voluntarily.No. Not unless they transfer their interest in the property voluntarily.No. Not unless they transfer their interest in the property voluntarily.
Which provides greater protection for the buyer a bargain and sale deed or a quit claim deed?
Neither type of deed carries any warrantees. Both simply convey any interest of the grantor in the property if the grantor has any interest. The buyer must have a comprehensive title examination performed by a professional to determine the status of the title and what interest will be conveyed by the deed.Neither type of deed carries any warrantees. Both simply convey any interest of the grantor in the property if the grantor has any interest. The buyer must have a comprehensive title examination performed by a professional to determine the status of the title and what interest will be conveyed by the deed.Neither type of deed carries any warrantees. Both simply convey any interest of the grantor in the property if the grantor has any interest. The buyer must have a comprehensive title examination performed by a professional to determine the status of the title and what interest will be conveyed by the deed.Neither type of deed carries any warrantees. Both simply convey any interest of the grantor in the property if the grantor has any interest. The buyer must have a comprehensive title examination performed by a professional to determine the status of the title and what interest will be conveyed by the deed.
No clear deed but one was recorded on record and witnesed and stamped is this legal?
If the deed was executed by the "owner" of the property, properly witnessed and recorded then it legally conveyed to the grantee whatever interest the "owner" had in the property. The grantee is the new owner of that interest. A title examination would need to be performed to determine if person who executed the deed was indeed the owner and if they owned 100% interest in the property.
Can a lien be placed on a house from a bank debt from a tenant?
No. A tenant has no ownership interest in the property and so the property is not available to their creditors.No. A tenant has no ownership interest in the property and so the property is not available to their creditors.No. A tenant has no ownership interest in the property and so the property is not available to their creditors.No. A tenant has no ownership interest in the property and so the property is not available to their creditors.
With two people on a deed do they have equal share or can it be unequel?
When two or more people acquire land by deed their fractional interest is set forth in the deed. If the deed is silent, they each own an undivided equal share in the whole property. However, at the time of the purchase any fractional arrangement can be set forth in the deed. In that case the deed would need to specify the split. For example, the deed must recite that David will receive a one-quarter interest, Charles a one-quarter interest and Judith a one-half interest.
