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Family Advocate Fall 2021: Vol. 44, No.2
Explore the fundamentals of heirs property and the efforts to prevent and deter the loss of land and home across generations, with a special focus on the Uniform Partition of Heirs Property Act, which has been adopted in 19 jurisdictions and introduced in at least 7 more.
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Closed Captioned.
Writing, Implementing and Expanding on the UPHPA
A discussion on the background and development of the Uniform Law Commission (ULC), the UPHPA, and ongoing ULC projects to enact the UPHPA in the remaining states and draft a new act to address crucial issues not covered by the UPHPA, such as the heirs' consent to mortgage the property in order to buy out a predatory investor. This session will also review local and state laws that increase the instability of homeowners with heirs property, and explore potential state legal reforms beyond partition laws
Identifying, Addressing and Planning for Heirs' Property Solutions: From Mediation to LLC
If there are many tenants in common, across generations, the combination of distance, lack of personal knowledge of one another, and unresolved family issues may become a tsunami, particularly when an heir may opt to sell a small tenancy-in-common share to an outsider, triggering litigation and potential losses of appreciated land value, ability to earn a living on the land, and family history. Lest that arise, and in anticipation, heirs need to locate the other heirs, clarify expectations about property values, do title searches, engage in transactional work, and possibly retitle the land using a more stable form of ownership.
Then they need to agree how to manage the property or seek other remedies under the UPHPA such as buying out the disaffected heir or the investor. An estate planning lawyer, a lawyer who advises heirs to develop corporate forms to use in managing the property, and an expert in alternative dispute resolution weigh in on interrelated legal and personal issues and potential remedies.
Benjamin Orzeske, David J Dietrich, Erica Levine Powers, Heather Katharine Way, Josh F Walden, Mavis Gragg
LG218HPD1OLC
180
8/25/2021 12:00:00 AM
Publications | Single Issue Periodical
Family Advocate Fall 2021: Vol. 44, No.2
Publications | Single Issue Periodical
Family Advocate Client Manual Summer 2020: Vol. 43, No.1
Publications | Single Issue Periodical
Family Advocate Winter 2023: Vol.45, No.3
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