Undivided Interest

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Icon Mini Profile Sam
Sam
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Post Posted: Thu Apr 08, 2004 3:23 am    Post subject: Undivided Interest
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Undivided interest in the property includes the title to the real property held by two or more individuals. But the interest of each party in the property is not specified either in percentage or in description of a part of the property. Undivided interest is common among joint tenants, tenants in common and tenants by the entirety.

Example: Samuel, George and Rodger jointly own and use a property in New Jersey. The proportion of their shares in the property is thus known as Undivided interest.

You can request for separate taxation of undivided interest in property, by using the Form given here.
confused5657

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Post Posted: Mon Feb 06, 2006 7:53 pm    Post subject: joint tenant in entirety
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I own a house with my ex-girlfriend and have moved out.We are trying to sell the house.S he is refusing resonable offers, can I force the sale of the house it's a financial hardship.
Zeal_Deal

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Post Posted: Mon Feb 06, 2006 8:00 pm    Post subject:
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I dont think that you can sell the house without the consent of your ex-girlfriend because both of you jointly own the property. I will advice you to consult an attorney for further clarification.

Zeal_Deal
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Post Posted: Tue Mar 02, 2010 6:20 am    Post subject:
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say u got 60 heirs to a undivided estate and and only 50 acres to divide what happens
Icon Mini Profile jameshogg
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Post Posted: Tue Mar 02, 2010 10:30 pm    Post subject:
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Hi Guest,

If there is a will to that property, then the property would be divided amongst the heirs as per that will. You may speak to a real estate attorney and he would help you in getting further advice is this regard.

Thanks
L Kennedy

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Post Posted: Fri Sep 10, 2010 2:20 pm    Post subject: Property owned between an estate and myself
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Property titled as 1/2 undivided interest. Myself and the estate now share the property. Who is responsible for a loan against the property?
The property is being particianed for sale. Will the amount of the loan be deducted from both parties?
Icon Mini Profile jameshogg
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Post Posted: Sat Sep 11, 2010 12:30 am    Post subject:
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Hi Kennedy,

In my opinion, both you and the estate will be liable for paying the mortgage balance.

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Regina

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Post Posted: Tue Feb 08, 2011 9:21 am    Post subject: undivided interest on 185 acre farm
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my mother and brother owned a farm w/both having 1/2 undivded interest. They both lived in the farm house together and shared utilities My mother passed away without her will being signed so her will is no good. My mother had a small outstanding loan on her half of the farm. Can my bother assume my mother's laon and own the farm solely since they owned the farm together with each owning half undivided interest?
Icon Mini Profile jerry
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Post Posted: Wed Feb 09, 2011 1:56 am    Post subject:
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Hi Regina,

It will be the lender's discretion as to whether or not he will let your brother assume the loan. However, in order to assume the loan, your brother should meet all the required criteria of the lender.

Thanks,

Jerry
lu

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Post Posted: Thu Mar 15, 2012 9:49 am    Post subject: undivided property interest
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our family has land that had not been divided by sibling. the property belonged to the siblings mother who left no will. we need to do some kind of form showing undivided interest in the property for the siblings.
how do we format a form for all to sign
Icon Mini Profile jameshogg
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Post Posted: Fri Mar 16, 2012 12:57 am    Post subject:
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Hi lu,

You can contact your real estate attorney and take his opinion in this matter. He will help you in drafting the deed which all of you will have to sign.

Thanks
Guest1

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Post Posted: Thu May 24, 2012 4:44 pm    Post subject: Undivided Interest
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I am trying to buy my Aunt out of 16 acres that she overseas for my cousins untill her passing, the purpose is to build on it. My father is overseaing the other 16 acres that will fall to myself and 2 siblings, is there a way to build a house on that part I want to buy since my Aunt doesnt want to use a bank, and pay her straight out for property?
Icon Mini Profile jameshogg
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Post Posted: Thu May 24, 2012 10:52 pm    Post subject:
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Hi Guest,

I don't think there will any issues if you want to build a house on the 16 acres that you will be buying from your aunt.

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Dorinda

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Post Posted: Tue Jun 05, 2012 8:38 pm    Post subject: Quit Deed
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My father quit claim deeded his property in Idahobto my brother and I as the deed names us both as undivided interest. My brother has now passed away and had no will. He was married with a family. What happens with the property now?
Icon Mini Profile jameshogg
jameshogg




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Post Posted: Tue Jun 05, 2012 11:39 pm    Post subject:
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Hi Dorinda,

The deceased brother's share of the property will be inherited by his wife and children, if any.

Thanks
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