Legal Question in Wills and Trusts in Florida
I own a house with my dad. (1/2 in dad's name and the 1/2 in mine). The house is 25 years old and 3 years left on the mortgage.
If my dad passes on, do I get the entire house or does 1/2 go back into his estate? I have a bad relationship with one of my sisters and want to make sure, she doesn't get anything. She already took a lot from my mother's estate, which she is not entitled too.
Thanks.
1 Answer from Attorneys
The answer to your questions depends on how you and your father hold title to your home, although it is very likely that you would get the home.
On the deed, it is likely that it states that you and your father the owners with "joint tenants with right of survivorship." If that is the case, if one of you passes away, then the survivor owns 100% of the home. It would not be a part of your father's estate to be divided among all heirs.
Alternatively, the title on the deed could be in your name, with your father holding a "life estate." That is unlikely, but it would have the same net effect anyway. Your father would have the use of the home during his lifetime, and it would go entirely to you if he passes away.