co-owners

[acmb05]

What is the name of your state? Michigan

My mother in law and one of her sons are listed as co-owners on her home. The home is paid off and the mother in law wants to know if she needs to have something besides just his name on it if something were to happen to her. She has 3 other children and wants one of them not to have any rights to it when she is gone.

I thought that just having his name on it only entitles him to half the home and if she were to pass away that her half would be part of her estate and be divided between the 4 children. I told her she should have a will drawn up that specifically says who gets the house and who does not.

I know the family will end up fighting if it goes to probate so we are trying to avoid that in the future. My wife and I are willing to give up her share in the home just to avoid any nonsense.

What would be the best thing to do in this situation?

 

[BelizeBreeze]

What is the name of your state? Michigan

My mother in law and one of her sons are listed as co-owners on her home. The home is paid off and the mother in law wants to know if she needs to have something besides just his name on it if something were to happen to her. She has 3 other children and wants one of them not to have any rights to it when she is gone.

I thought that just having his name on it only entitles him to half the home and if she were to pass away that her half would be part of her estate and be divided between the 4 children. I told her she should have a will drawn up that specifically says who gets the house and who does not.

I know the family will end up fighting if it goes to probate so we are trying to avoid that in the future. My wife and I are willing to give up her share in the home just to avoid any nonsense.

What would be the best thing to do in this situation?

His name on the deed ONLY gives him 50% ownership which means mom's 1/2 will go to her estate to be divided appropriately.

If his name is NOT Joint Tenent With Right of Survivorship (JTWROS) then tell mom to have it done now. That way, the home will go to him alone in the event of her death.

 

[acmb05]

Thanks BB thats what i thought.

 

[HomeGuru]

His name on the deed ONLY gives him 50% ownership which means mom's 1/2 will go to her estate to be divided appropriately.

If his name is NOT Joint Tenent With Right of Survivorship (JTWROS) then tell mom to have it done now. That way, the home will go to him alone in the event of her death.

**A: read the fact pattern again please.

 

[acmb05]

**A: read the fact pattern again please.

I know this is an old thread but I basically forgot about it. Could you elaborate on your answer HomeGuru. What did you mean by the fact pattern?