Q: I own 50% of a beach cabin in Oregon. If I die, does my wife receive my 50% share? Want to avoid probate court.
We have no Will or Trusts. No kids. Want a clean/fast transfer of my 50% ownership to her.
A: The answer to your question depends on the wording on the Deed for the cabin. It's possible that the Deed includes language like "with right of survivorship." In that case, if you die first, the other 50% owner will automatically inherit your share of the cabin. If the Deed does not include this language then your 50% of the cabin goes to your estate (according to your Will). If you do not want to add your wife to the Deed now, the best way to get your share of the cabin to her at your death is to create a Revocable Living Trust and Deed your 50% into the Trust. This avoids probate at your death. Another option is to consider a Transfer on Death Deed. However, be aware that there is an 18 month cloud on the title after your death which could affect the ability to sell the cabin for that time.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
