happyDonate
Returning Member

Deductions & credits

@pk 

You stated, "Joint Tenancy  without right of survival, gets in trouble because the  demised tenet's share of the Asset is distributed to the other x number of tenants."

I think the grant deed stated 3 persons(Husband, wife and a child) name for the property as joint tenants.  It's impossible there are any number of other tenants.  It's not "tenant in common" that the person on the deed can will/deed to anyone else.  Joint tenants implies joint tenancy with right of survivorship because one tenant passed, the property shared by the surviving tenants on the deed.

These 3 persons H/W/C own the property in the community property state, so it's confusing to me how W&C's share should be after H passed. Is 1/3 of FMV (H's step up) passing to W and C equally or W gets 100% FMV and C gets nothing.