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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.

[b:f48904161e]Example:[/b:f48904161e] 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 [b:f48904161e]Undivided interest[/b:f48904161e].

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

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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?

Like | Dislike | Share | Posted: Thu, 05/24/2012 - 16:44 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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.

Thanks

Like | Dislike | Share | Posted: Thu, 05/24/2012 - 22:52 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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?

Like | Dislike | Share | Posted: Tue, 06/05/2012 - 20:38 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Dorinda,

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

Thanks

Like | Dislike | Share | Posted: Tue, 06/05/2012 - 23:39 | Post subject:

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