N.Y. Estates, Powers and Trusts Law 6-5.4 – Implication of cross remainders between tenants in common
Current as of: 2024 | Check for updates
|
Other versions
§ 6-5.4 Implication of cross remainders between tenants in common
Terms Used In N.Y. Estates, Powers and Trusts Law 6-5.4
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
When a limitation, if contained in a will, would create a tenancy in common, with implied cross remainders, a like limitation, if contained in a deed, has the same effect.