Real Estate Blogs

Posted on September 29, 2022 by Nat Olsson in Featured, Real Estate

If you want to add someone to title as a joint tenant to avoid probate fees, or otherwise, you should keep the following in mind:

Creation of the joint tenancy could interfere with your estate plan: title to the property will pass outside of probate, and this might conflict with the intentions expressed in your existing will. It could also lead some of your beneficiaries to bring a claim against the estate if they feel they are not getting their fair share, because, without clear additional proof of your intentions, the person who goes on title with you can be deemed by the court to be holding the property on behalf of your estate, rather than a gift recipient who obtains the property outright upon your death.

Posted on February 6, 2018 by David Severide in Featured, Real Estate

Given the extremely high cost of housing, there is a growing trend in the Lower Mainland for elderly parents to provide substantial amounts of money towards the purchase or renovation of a house owned by a child, on the understanding that in return for advancing the money, the child will allow the elderly parents to reside in the home owned by the child, perhaps in a separate suite. Sometimes these informal arrangements also include an expectation that some level of care and support will be provided by the child, such as meals, basic nursing care and the like.