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Common Law Issues The law regarding common law relationships is different than in cases of divorce. Discuss the issues that affect unmarried couples here.

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Old 03-26-2012, 10:42 AM
shlaba shlaba is offline
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Default joint tenents vs. a will

as anyone who has been following the antics of my relationship breakdown and seperation i have an important question...on the mortgage paperwork and stuff we are joint tenants but since we are seperated and i have serious health issues i left my father as my beneficiary but if something happens to me before the house is sold can he get my interest in the equity in the house or does it go to her no matter what??
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Old 03-26-2012, 05:15 PM
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i think it automatically passes to her
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Old 03-26-2012, 06:04 PM
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and there is no way i can stop that??
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Old 03-26-2012, 06:11 PM
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Quote:
Originally Posted by shlaba View Post
and there is no way i can stop that??
dont think so, its a legal contract. I think you have more important things to worry about then what happens to the house when/if you are gone. Worry about the shit that is happening now.
Joint Tenancy:
The situation where two or more persons are equally owners of a property. Upon the death of one person the ownership reverts to the surviving joint tenant. Most married couples hold title in joint tenancy because the surviving spouse will become the sole owner in the event of the death of their partner.
Tenants in Common:
Similar to joints tenants. All tenants in common share equal property rights except that, upon the death of a tenant in common, that share does not go to the surviving tenants but is transferred to the estate of the deceased tenant. Most business partners will hold title as tenants in common. In the event of death, the interest of the deceased partner will go to their estate, and not to the other business partner.

Last edited by standing on the sidelines; 03-26-2012 at 06:20 PM.
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Old 03-26-2012, 06:22 PM
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Yes, you can change it.

Have your lawyer prepare and register an Application to Change Legal Tenure - you sign it, severing the joint tenancy and creating a tenancy in common 50/50. Then you share is dealt with within your estate.
She won't even know it's been registered unless she checks. If you do die before your equalization is complete, she may still have a claim under the FLA with respect to your one-half share for equalization purposes.

In Ontario, it's a Transfer to Change Legal Tenure. Not sure what it would be in your Province, but positive you have a similar form. In our firm, it would cost you about $500.00, fees/disbursements to register.
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Old 03-26-2012, 06:25 PM
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can he legally do that without notifying the bank or her??
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Old 03-26-2012, 06:27 PM
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yup
we've discussed this before
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Old 03-26-2012, 06:29 PM
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not according to this.

Estate Law Canada: Joint tenants vs. tenants-in-common
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Old 03-26-2012, 06:33 PM
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Not according to this, what?
Her article concurs - joint tenancy, last man standing; tenants in common, falls into estate of deceased.
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Old 03-26-2012, 06:43 PM
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Quote:
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Not according to this, what?
Her article concurs - joint tenancy, last man standing; tenants in common, falls into estate of deceased.
you said he could do it without her consent or talking to the bank. According to this, he has to have her consent to do it.
  1. Can my partner and I switch from joint tenancy to tenants-in-common if we both agree to? Will our bank agree to this if I'm the one paying the mortgage, and can prove, with partner's admission, but am the one they consider high risk for being self-employed?
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  3. Lynne ButlerMar 21, 2010 09:08 PM
    Yes, if you and your partner agree, you can change the title. You will have to file some documentation at the Land Titles Office but it's not a difficult transaction. I can't comment on what the bank will do with your mortgage as there are just too many variables. I certainly urge you to call your mortgage contact at the bank and talk about this before you take any steps at the Land Titles Office so that you know all the consequences before you act.
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