Question
In Ontario, California, married couple Barry and Ley jointly purchase a house for their family. Both of the men have been married previously and have
In Ontario, California, married couple Barry and Ley jointly purchase a house for their family. Both of the men have been married previously and have children from their previous marriages who are all now adults. Because both sets of parents have made provisions for their children in their wills, the husbands have come to the conclusion that, in the event that one of them passes away, the other should inherit the house.
1. Which form must be completed to establish how the title will be listed on the deed, and what information must be included there?
2. After another five years, Barry passed away. What is going to happen with the title?
Is a traditional probateof the estate necessary?
3. What are any alternative methods for evading the probate process?
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Step: 1
1 To establish how the title will be listed on the deed Barry and Ley would need to complete a form called a Grant Deed or a Transfer of Ownership for...Get Instant Access with AI-Powered Solutions
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Get StartedRecommended Textbook for
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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