The parents die and the three children want to purchase the home with the stipulation that the last child to survive will have 100% ownership of the house. How should they take title to facilitate this?

Question

Colton Montes

Law

26 October, 07:25

The parents die and the three children want to purchase the home with the stipulation that the last child to survive will have 100% ownership of the house. How should they take title to facilitate this?

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Answers (1)

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Ayana Mueller · Answer 1

Answer and explanation:

In order to facilitate this legal process, and considering the situation presented, the best option would be a joint tenancy. Joint tenancy is a legal proccedure that indicates that when there is more than one owner of a property, all of them have equal rights on said place. In this case joint tenancy claims survivorship rights so that the remaining child will increase their percentage ownership.