What is Tenancy-In-Common Ownership in Washington Real Estate? Tenancy-In-Common is one way for two or more persons to hold ownership together in Washington Real Estate. Each cotenant owns an undivided interest in the entire property. This means that specific areas of the family cabin are not owned by one cotenant or another but are shared as a whole collectively. There may be multiple cotenants with the same or different ownership interests over time. Every cotenant has the right to possess, use and enjoy the entire property. As a result, each cotenant can do more or less what they want to do with their own interest, including sell, lease, transfer and even encumber it without the consent of the other cotenants. It is recommended that the cotenants create a written co-tenancy agreement which specifies the rights and duties of each co-tenant including payment for property taxes, utilities and maintenance as well as a right to first refusal in the event of a sale or transfer. It is best to record the agreement or at least notice of the agreement with the County Auditor. The interest of each cotenant passes onto their estate as there is no right of survivorship as in the case of a Joint Tenancy.
In Washington a trespasser may become the owner of property against a neighbor who does not occupy or defend his property over time based on Adverse Possession. The trespasser’s possession must be (1) exclusive, (2) actual and uninterrupted, (3) open and notorious, and (4) hostile for 10 years. The common example involves a boundary dispute where a fence is not located on the true property line. The trespasser then goes on to use all the property within the fence. If the neighbor allows this use to go for a long time without raising objection, eventually the trespasser can claim ownership of all the property inside the fence, including that which originally belonged to his neighbor, by Adverse Possession.
A Will admitted into Probate by the Supreme Court of British Columbia may also be admitted to a Probate in the Superior Court of Washington. Typically, it is necessary to have a Probate in Washington as well because the BC Court does not have the power to transfer title or ownership to real property in Washington. [Read more…] about BC WILL ADMITTED TO PROBATE IN WASHINGTON
The Transfer on Death Deed (“TODD”) is a great alternative to transfer Washington State Real Estate and avoid probate. It works equally as well for any Washington State property owner, whether a U.S. Citizen, U.S. Tax Resident, or Canadian Non-U.S. Resident. [Read more…] about WASHINGTON TRANSFER ON DEATH DEED AVOIDS PROBATE
The Community Property Agreement is the classic alternative for a husband and wife to transfer real estate in Washington State to avoid probate. It works equally as well for any spouses who are Washington State property owners, whether they are U.S. Citizens, U.S. Tax Residents, and/or Canadian Non-U.S. Residents.
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The Affidavit Lack of Probate (or “No Probate”) is an effective way to transfer title to Washington State Real Estate without a probate. It works equally as well for any Washington State property owner, whether a U.S. Citizen, U.S. Tax Resident, or Canadian Non-U.S. Resident. [Read more…] about AFFIDAVIT LACK OF PROBATE
Many Canadian Non-U.S. Resident property owners often desire to transfer or convey all or part of their real estate in Washington State U.S. to another family member. A common scenario involves a cottage and lot owned by several family members who are Tenants-In-Common, each owning an undivided interest. And eventually one family member does not wish to be an owner anymore. But what the Canadian Non-U.S. Resident property owner may not realize is that in order to convey or Deed over the Washington State U.S. real estate he or she must comply with U.S. Tax Laws. [Read more…] about CAN I DEED MY U.S. REAL ESTATE TO MY CANADIAN RELATIVE?