jointly owned house (50/50) -who gets other half on death

If I buy an overseas property jointly with a friend 50/50 split, under Irish Law, if one of us dies does the other joint owner have any automatic right to inherit the other half of the property?

I.e. would they be entitle to the other half if
a) the first to die had no will at all
OR
b) the first to die had an existing Will which had no specific reference to the overseas property but with as standard residue clause.

thanks

Re: jointly owner house -on death

btw, i know the propert thing to do is make sure we both have new wills drafted and possibly one for the country in question also incase their laws differ.

However I am interested in knowing about what happens before new specific wills are drawn up.

Booh said:

If I buy an overseas property jointly with a firend 50/50 split, under Irish Law, if one of us dies does the other joint owner have any automatic right to inherit the other half of the property?

I.e. would they be entitle to the other half if
a) the first to die had no will at all
OR
b) the first to die had an existing Will which had no specific reference to the overseas property but with as standard residue clause.

thanks

Click to expand...

If it was an irish property it wouldn't matter whether you had a will at all as jointly owned property passes automatically by survivorship.

What you need to find out is the local law.

Thanks for the reply.
How does survivorship work?
This may be important as some countries apply Irish Law not local law for property owned by foreign nationals.

Booh said:

Thanks for the reply.
How does survivorship work?
This may be important as some countries apply Irish Law not local law for property owned by foreign nationals.

Click to expand...

Survivorship is where the survivor tales sole ownership of the property. In ireland you woudl lodge certain documents with the relevant registry of title (land registry or registry of deeds) and the property would go into the survivors name.

You will need to check the local law as to how you get the property transferred into the sole name.

Booh,

There are two ways under Irish law that property can be held:

1. Joint tenancy: the principal of survivorship applies and the property passes to the surviving joint tenant regardless of an intestacy or what is said in the will.

2. Tenancy in Common: Each joint tenant can do what they wish with their share of the property. They can leave their share in their will to whoever they want. If they die intestate their next of kin will inherit their share.

For foreign property it would I presume depend in the way that the foreign law allows people to hold property. Unfortunately you would really need to consult a solicitor in the jurisdiction in which you wish to buy. An Irish will can deal with foreign property assuming that each joint tenant could leave their share to whom they wished.

Thanks for that.

Can anyone quote me the name of the Act/Section that deals with joint Tenancy and Tenancy in Common.

Thanks

Booh said:

Can anyone quote me the name of the Act/Section that deals with joint Tenancy and Tenancy in Common.

Thanks

Click to expand...

I suggest you pick up a copy of J.C.W. Wylies book on Irish Land Law ( local library?) which has a very comprehensive chapter on the laws/rules ( at Common Law and in Equity) relating to co-ownership in this jurisdiction.

mf