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An arrangement where two or more people share ownership rights in a property or parcel of land is called ?
The tenancy in common partner has the right to leave their share of the property to any beneficiary as a portion of their estate…
While the percentage owned varies, no individual may claim ownership to any specific part of the property in Tenancy in Common.
……..refers to a legal arrangement in which two or more people own a property together, each with equal rights and obligations.
In Joint Tenancy if one owner dies, their interest in the property is directly passed on to the…
Joint tenancy eliminates the need for probate or the transfer of a deceased person’s assets to an estate.
The joint tenancy also means owners are equally responsible to pay for the property including….
An account where there are two account holders, each of whom may operate it.is called_______________.
If you want your father, mother and spouse to be able to access and operate your bank account then which is the best option?
In which type of account only the second account holder (second applicant) can operate the account only on death of the primary holder (first applicant).
In which type of account, the primary/first account holder can operate the account only on death of the secondary account holder.
In which type of account, all the transactions need to be signed and mandated by all the account holders__________.
KYC requirement for minor bank account includes:
A maximum of ……… person can jointly hold a single investment account in mutual fund.
Can minors be joint holders of units in Mutual Funds.
In case of a joint mutual fund, who will stand to claim the tax benefits if any on the mutual fund investment___________
If there are no joint holders in mutual funds then units would be transmitted to the
Shares of a deceased share holder are inherited or bequeathed to an heir or personal representative of the deceased shareholder is called
Documents required for transmission of shares are?
……….occurs due to insolvency, death, inheritance or lunacy of the member whereas……………. Is done voluntarily
Of the insurance act, 1938 deals with nomination of life insurance policy.
As per new rule in the insurance laws (amendment) act, 2015 , death benefit will be paid to beneficial nominees and not to any other legal heirs, irrespective of anything.
Even though one can nominate distant relatives or even friends, it violates which principal of insurance.
Can a nominee be minor in a Life Insurance Policy ?
You are meeting with your client who will be a grantor to a trust. You are helping to assess the specific needs of the beneficiaries and the constraints of trusts to meeting the estate planning goals. Your client wants to give up all right, title, and interest in the trust corpus and wants to know more about the tax implications. Which of the following most likely meets the specific needs of both the grantor and the beneficiaries?