John Doe and Jane Doe, a married couple, and Tom Jones own property together. What is ownership percentage?

Do the married couple own 1/2 interest or 2/3 interest?

8 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    It may depend on whether John and Jane have a community property share. The answer could be state-specific and not obvious.

    The lawyer who drafts such a document without specifying shares is guilty of malpractice.

    That said, one would assume in the case of separate property and tenancy in common (which is likely if Tom Jones is not related to the others) equal 1/3 shares.

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  • C_Bar
    Lv 7
    1 decade ago

    More info is needed to answer the question meaningfully.

    As people have said, the ownership interests could be set up anyway the three want, including between the husband and wife. IThere are at least a dozen different ways the wonership could be set up, including possibilities such as joint tenancy, held as a partnership, etc.

    The way the question gets interesting is if 1) a community property state, and 2) the spouses have not made any effort to define the property as not a part of the community property. Then suppose each acquires a third of the property. Jones owns a third. How much does each married person (not the couple) own? IN one sense it is a third: half of the thrid each spouse acquired, plus half the third the other partner acquired. (But community property doesn't necessarily mean each asset is divided by half -- just the total of the community property.)

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  • 1 decade ago

    Do they own a percentage individually or as a couple? If, say they were roommates earlier and each paid 1/3, then the answer would be 2/3. If they went into the agreement as a married couple, then it would probably be 1/2 because the 2 are made 1. It really depends upon the contract, though.

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  • Anonymous
    1 decade ago

    That would pretty much depend on how much each contributed to the purchase... if each paid 1/3 or if the couple paid 1/2 and the other person paid the other 1/2.

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  • Anonymous
    1 decade ago

    Being married or not has no influence. What was agreed initialy would decide who owns what.

    If the property was given, then if the gift was specified as to be shared equally then each party gets an equal share whether or not they are married to another party

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  • 1 decade ago

    I'd say they own 1/2 if the property is in a spousal state...

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  • distad
    Lv 4
    3 years ago

    For formal events and formal activities, that's Mr. and Mrs. John Doe. in case you do no longer know them o.k., nevertheless use the formal handle, even for terribly casual activities. You handle invites interior the formal, and you introduce them formally. that's their flow to then say, call us John and Jane. for terribly casual activities, like a outdoors community BBQ, and you recognize them o.k., Jane and John is super on the invite.If all people on the BBQ is conscious them nicely, you may say, right this is Jane and John!. old college is the guy's call comes first. New college is the girl's call comes first. i like the girl's call first. She seems after the correspondence, in lots of cases, and in my ideas, women folk pass first.

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  • 1 decade ago

    Each individual on the deed owns 1/3, unless you have expressly divided it differently.

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