PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: donjuan_demarco who wrote (48743)	10/18/2000 8:15:33 PM
From: Oral Roberts	Read Replies (1) of 769670

I know and I am probably out my league here. You have to excuse me as I am from a marital property state. With that said I have to question this. <if the property is owned "X and Y and Z, joint with rights of survivorship," and X dies, then Y and Z own the property joint with rights of survivorship, and X's creditors don't come into the picture.> So if X has taken out a mortgage on this property the lien holders cease to have any rights? I am sure that is wrong. In a trust the property is owned by the trust and the death of someone does not matter. The trust continues. Any liens etc are in the name of the trust because individuals don't own them, much like a corporation. Joint property on the other hand are owned by people and the death of one creates a probate issue. If I am wrong, please show me as I am always eager to learn. Jeff

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