What happens to a co-tenants share of rights when he/she passes, is not married, and has no children. Is it then split evenly between the rest of the co-tenants?.
Dakota67:
First, did the individual have a will. If no will was in place and the individual was not married and has not children, then possibly the responsibility of the settlement in regards to the estate would fall in the jurisdiction of the State. I would seek the advice of an estate attorney to verify what laws would be applicable depending on what State the rights are located in.
If it were joint tenancy, then yes, it would automatically be split among the others. But if tenants in common, the person could leave it to whomever they wish via will or trust. If there is no will or trust, chances are it will go to relatives of the deceased individual–such as parents or siblings. You can find out exactly who by looking at the intestate statute of the State where the individual resides.
charles s mallory said:
Dakota67:
First, did the individual have a will. If no will was in place and the individual was not married and has not children, then possibly the responsibility of the settlement in regards to the estate would fall in the jurisdiction of the State. I would seek the advice of an estate attorney to verify what laws would be applicable depending on what State the rights are located in.