Tenants in Common

Guest 0.10 Dollars($)

My name was put on a quit claim deed along with someone else I don't know and placed as tenants in common by my dad who passed away. The quit claim was on property that was auctioned off without my knowledge and I received half of the interest on the property. The other party on the quit claim deed was deceased and I'm assuming someone in her family will get her part. My question is that noone has been able to claim her part of the interest and wanted to know then where would the rest of the interest go? Thanks.

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi Magnetlady,

Welcome to the forum.

I think you are right. Her share of interest will be distributed to her heirs according to the Intestacy law of her state by the court. BTW has anyone claim her share of interest yet?

Best of luck,
Larry

Guest 0.10 Dollars($)

There were some family members that tried to claim her share but didn't send in the proper paperwork and so far the remainder is still at the county clerks office in Florida. Thats why I was wondering what would end up happening to the rest of the money. Its a long story but my dad wanted to get rid of the property as he was tired of fighting with his step-children and a lawyer told me that he told my dad to rent it out and finally my dad told this lawyer to do what he wanted with the property. He evidently didn't get along with his step-children anymore as the one named on the quit claim deed was one of them. I was estranged from my dad and we lived in two different states. I wish there was a way I could of got her part as my children are having it rough right now.

sara

Hi Magnetlady,

Welcome back to the forums.

As per Tenancy-in-Common form of ownership, the deceased co-tenant's heirs will be getting his property-interest. And, if you wish to dissolve the tenancy-in-common form of ownership, you have the right to buyout the co-tenant's heirs.

Take Care

Guest 0.10 Dollars($)

The property that the quit claim was on happened to be auctioned off and the interest is what I got from the sale. The county clerks office said I was sent a certified letter in regards to the auction but it was sent to the address of the property in Florida and not where I live so didn't know anything about the auction. I'm not even sure if there is a part of the lot I still own or not because it doesn't have a clear title. I can't afford an attorney and thats all the information I got from the county clerks office in Florida.

helping_user

Hi Magnetlady,

You say that the property doesn't have clear title. Can you clarify what you mean by this? are you not sure as to whether your name is on the title? if your name is there, then you will get the sale proceeds equivalent to your interest in the property. And if you have received it, then that's good. The rest of the proceeds will most probably be given to the deceased owner's heirs.

To find out who's on the title or whether you still own a lot or so, check out the public records at the County Clerk's office.

Thanks.

Guest 0.10 Dollars($)

I OWN A HOME WITH ANOTHER INDIVIDUAL AS TENANTS IN COMMON. UPON MY DEATH WHAT HAPPENS? THE HOUSE WOULD HAVE TO EITHER BE SOLD OR THE OTHER PERSON WHOM I OWN THE HOUSE WITH WOULD
HAVE TO BUY OUT MY CHILD ....IS THIS CORRECT?

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi ANNE.

Welcome to the forums. As you are tenants in common, your share of property will be distributed between your heirs. Why don't you add your child on the deed or use a ladybird deed so that after your death, your share of the property can be given to you child without the harassment of probate. Contact an attorney and check out whether you can use a ladybird deed or not.

Feel free to ask if you have any further questions.

Best of luck,
Larry

jheard · Posted: Tue Aug 26, 2008 8:42 am Post subject:

Magnetlady: the money will go to the state ("escheat").

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