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Right of Survivorship

What is a Right of Survivorship?

A right of survivorship determines what will happen to a certain type of co-owned property after one of its owners is deceased. There are many types of co-ownership under law, but the right of survivorship is only found in joint tenancy, which is a contract between two or more parties indentify their immediate ownership of either real or personal property such as a house, land or money. Read below where Experts have provided many legal answers pertaining to the right of survivorship.

If a parent and their child have inherited property through a will, if the parent dies will the property be transferred over to the other parent?

If two people own property as joint tenants with right of survivorship, when one of them passes the inheritance will automatically transfer to the other join tenant. The other parent will have no right to the property.

Does the state of North Carolina recognizes right of survivorship or does it just include tenants in common cases?

North Carolina does recognize both. The state recognizes the following types of ownership: tenancy in common, joint tenancy and tenancy by entirety, but not community property. When granting ownership of real estate to two or more people it is assumed to create a tenancy in common, unless otherwise stated in the conveyance under North Carolina Code 41-2. Normally married couples chose to select joint tenancies in the ownership of real estate, with rights of survivorship.

When someone has received property through right of survivorship, do they need to remove the deceased name from the deed, also can someone be held responsible for the deceased credit card debt?

All they would need to do is provide a copy of the death certificate to the county recorder’s office for notification of death, same thing with the credit company. If the one that inherited the credit card is only an authorized user of the credit card, but not a co-signer, then they should not be held responsible for the remaining debt. Any debts remaining will normally be paid off by the estate of the decedent which will require the creditors to file their claim, normally within thirty days of hearing that the estate will be in the probate court.

If someone has right to survivorship does their sibling get a percentage of the value of the property?

Unless a percentage is stated to be granted to the sibling in the deed, the sibling will have no legal rights to anything. The whole property will be completely owned by the sibling that was stated in the deed. When dealing with a right to survivorship Experts can answer questions on issues about real estate and probate court.

If someone is a joint owner and has right of survivorship from a parents bank account, can they divide up the money between the other siblings?

If the only asset the parent has is a bank account, and the child has the right of survivorship on that bank account, there will be no need for a will or probate court. As a joint owner of the account, at the time the parent is deceased, the money will automatically be granted to the child. It will not be considered an inheritance. They can divide the money up as they wish without running into any problems. In all joint tenancies, at the time of death one of the joint tenants, ownership of the remaining property will be passed to the surviving tenants, or children, who declare the right of survivorship. Normally a right at common law is recognized by statute in all states. Ask Experts to answer any questions you may have relating to joint tenancy with right of survivorship.

Ask a Family Lawyer

Ely
Ely, Counselor at Law
Category: General
Satisfied Customers: 9387
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
7286322
Type Your Family Law Question Here...
characters left:
4 Family Lawyers are Online Now

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    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Family Lawyers are online & ready to help you now

Ely
Counselor at Law
Satisfied Customers: 8085
Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
LawTalk
Attorney and Counselor at Law
Satisfied Customers: 6424
27+ years legal experience. I remain current in Family Law through regular continuing education.
FiveStarLaw
Lawyer
Satisfied Customers: 6336
25 years of experience helping people like you.

Recent Survivorship Questions

  • My husband is terminally ill with stage 4 cancer. His will

    My husband is terminally ill with stage 4 cancer. His will states I get my due & of the estate. I have lied with him as common law wife from March 2004 till February 2007 when we got formally married. Does the common law time period count?
  • My husband has a pension (from a university where he worked),

    My husband has a pension (from a university where he worked), and I have a right of survivorship (if that's the correct term), where I get the pension after he dies. If he has to go into a nursing home, and they take all his money until he's indigent, will they be able to take his pension? If so, will it revert to me when he dies?
  • I have a domestic partner we have not declared so legally

    I have a domestic partner we have not declared so legally i don't thank we can because live in the state of Georgia. My questions are .1 We both share a home where we pay the mortage equally our loan is through B.O.A. and our amount left on the loan is about 58,800 the house is appraised at 200'000.00 so we have about 140,000.00 of of equitly in our house. BOA told us if one of us dies the remaining standing mortage will be totally assumed by the one that is alive. We both left our share of our property in a pretty good will to the other one. My question is have we done enough to assure that no family member can then try to lay claim to our property? 2. We both have each other as the beneficiries of our life insurance as each one as insureable interest and All other possesions named in our wiil will go to each other. We both left each other our cars etc.... all other properties and possession will go to the persons that we chose.
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