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TSRicky300
post Jun 27 2015, 08:20 AM, updated 10y ago

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This post has been edited by Ricky300: Jun 12 2016, 01:25 PM
TSRicky300
post Jun 27 2015, 09:50 AM

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QUOTE(Kevin Chan @ Jun 27 2015, 09:14 AM)
2nd wife means no legal entitlement already.

unless there is a written will specifically named him as part of the beneficiary.
*
As mentioned, there is a written will stating my friend as one of the beneficiary! sweat.gif sweat.gif
TSRicky300
post Jun 27 2015, 10:25 AM

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QUOTE(cherroy @ Jun 27 2015, 10:19 AM)
There is the problem of a property with joint name.

Since the other 2/3 owner refuse to apportion the rental income, the only solution is through legal process to claim back.
But the cost of legal process may outweight the 1/3 rental income.

A better solution is to propose the other 2/3 owner to buy over the 1/3 share.

As the property technically cannot be sold or rent (sign new tenant agreement), without all party agree.
So propose to the other 2/3 portion owner, stated there may be future problematic/deadlock situation, if not buying over the 1/3 share, as if 1/3 share owner doesn't want to sign, nothing can be done on the property, which virtually all party get nothing from the property.
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That's what I told my friend too.

However he was being told that, the WILL didn't state that rental has to be apportioned.......He seek advises (ain't sure if he/she is a lawyer), the advisor told him that he can't do much in this case.

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