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The easiest way to remove the name of a co-owner from the deed of your house is by executing a release deed or relinquishment deed in your favour. This will make you the absolute owner of the property.
If the wifes name is not on the deed, it doesnt matter. Its still marital property because it was bought during the marriage. This makes it marital property and is still split between both parties. The wife is entitled to receive either equal share or equitable share of the house.
As joint tenants, each person owns the whole of the property with the other. If one co-owner dies, their interest in the property automatically passes to the surviving co-owner(s), whether or not they have a will. As tenants in common, co-owners own specific shares of the property.
In Michigan, spouses have the option of owning property by the entirety, which functions like a joint tenancy in that the surviving spouse will immediately take ownership of the property on the death of the other spouse. Michigan recognizes joint tenancy with right of survivorship as a common form of joint ownership.
In Michigan, joint owners of property may file a lawsuit to partition the property. A partition lawsuit forces the court to divide the property, or sell the property and divide the sale proceeds between owners. Any joint tenant or tenant in common may sue for partition of the property.
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There are two ways in which the mother and son could be co-owners, either as joint tenants or as tenants in common. If they are joint tenants, then each tenant has an indivisible share in the property and each is entitled to the whole of the property.
To transfer a joint ownership property to sole ownership, it is essential for all parties to sign the transfer deed and register it with the Land Registry. People who are interested in becoming the sole owner of the property can buy out the share of their ex-spouse or siblings, or docHub a different type of agreement.
Sometimes people think if only one spouses name is on a property deed, the other spouse does not own the property or have any right to it. This is not true. Real estate is marital property if it was purchased or paid for during your marriage. It doesnt matter whose name is on the deed.
Key Takeaways. Some of the main benefits of joint tenancy include avoiding probate courts, sharing responsibility, and maintaining continuity. The primary pitfalls are the need for agreement, the potential for assets to be frozen, and loss of control over the distribution of assets after death.
Selling a joint owned house A co-owner of a house may sell his or her undivided portion of the property if the buyer is prepared to make the acquisition in the manner described. The only other option is to separate property, either by a partition document or in court, and then sell the divided land.

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