Title to Co-Ownership of Real Property Put to the Test When Co-Owners Die or Become Incapacitated
We are seeing more and more cases where a co-owner of a jointly owned investment property retains us after the other co-owner dies or becomes incapacitated (as a result of Alzheimer’s or some other illness or accident).
- In the case of the death of the other co-owner, our client is usually now dealing with a successor trustee, executor or administrator of the estate.
- In the case of the incapacity of the other co-owner, our client is usually dealing with an agent under a power of attorney or a conservator.
In many cases, our client is surprised to learn that the vesting language in the deed to the property does not reflect the client’s understanding or intent regarding their ownership share. Continue reading