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When a joint owner does not inherit the property
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Signing a legal document to sever the joint ownership will ensure a specified share in the property.
PHOTO: ISTOCKPHOTO
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SINGAPORE - Many people hold real estate in joint names because there is a legal benefit in doing so - if one party dies, the other joint owner inherits the property - but there can be pitfalls as well.
Lawyers usually advise those making legacy plans for their properties that this rule of "survivorship" will apply even if the owners make other arrangements in their wills.
