Property Title IssuesSole TenancySole tenancy is ownership by a single party who has complete title to the property. Property held in a sole tenancy is generally subject to probate and pass according to the provisions of a will, unless a successor beneficiary has been designated. Assets held as sole tenancy is includable in the gross estate and applies against your applicable credit amount. To make best use of the applicable exclusion amount, consider titling assets, up to $1,500,000, in individual names.
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