22:31
yeah there are so many good cuisines in ithaca
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Simple English definitions for legal terms
Right of Survivorship
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A quick definition of Right of Survivorship :
Right of Survivorship: When two or more people own property together with the right of survivorship, if one person dies, their share of the property goes to the other owner(s). This is called the right of survivorship. There are two types of ownership that have this right: joint tenancy and tenancy by the entirety. In joint tenancy, the right of survivorship can be ended if the owners agree, if one owner sells their share, or if one owner kills the other. In tenancy by the entirety, the right of survivorship can only be ended if the owners get divorced or if they both agree to end it. If both owners have the right to use the property, either owner can ask a court to divide the property so they can each have their own part. But if the property is owned by a married couple as tenancy by the entirety, they cannot ask a court to divide it.
A more thorough explanation:
Right of survivorship is a legal concept that applies to joint ownership of property. When two or more people own a property with the right of survivorship, each person has an equal share in the property. If one of the owners dies, their share of the property automatically passes to the surviving owner(s). This means that the surviving owner(s) will own the entire property.
There are two types of tenancies that possess the right of survivorship:
In a joint tenancy, the right of survivorship can be severed, which means that the estate can be converted to a tenancy in common. This can happen through partition (voluntary or involuntary), a conveyance by one joint tenant, agreement of joint tenants, murder of one joint tenant by the other, or the simultaneous deaths of joint tenants.
In a tenancy by the entirety, the right of survivorship cannot be terminated by an involuntary partition. However, it can be severed by divorce, mutual agreement, or execution by a joint creditor.
Tenants with right of survivorship are not obligated to continue a concurrent ownership and are not required to sell only their interests to sell themselves from the co-tenancy. Rather, the tenant has an absolute right to petition a court to partition the property if both tenants have concurrent possessory rights. However, neither spouse can seek partition of a property held in a tenancy by the entirety.
Example 1: John and Jane own a house as joint tenants with the right of survivorship. If John dies, Jane will automatically become the sole owner of the house. If Jane dies first, John will become the sole owner of the house.
Example 2: Tom and Mary own a vacation home as tenants by the entirety. If Tom dies, Mary will automatically become the sole owner of the vacation home. If Mary dies first, Tom will become the sole owner of the vacation home. However, if Tom and Mary get a divorce, the right of survivorship will be severed, and they will become tenants in common.
These examples illustrate how the right of survivorship works in joint ownership of property. When one owner dies, their share of the property automatically passes to the surviving owner(s), without the need for probate or other legal proceedings.