Alabama Assignment of Interests in Right of Way (Undivided Interest)
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How to fill out Assignment Of Interests In Right Of Way (Undivided Interest)?
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FAQ
Tenancy in common: A tenancy in common is a form of concurrent ownership between two or more persons, in which each has an undivided interest in the whole property.
Under tenancy in common, co-owners own undivided fractional interests.
Partition. If tenants in common wish to terminate their shared ownership of the property they may voluntarily, by written agreement, divide the property into separate ownerships, or any co-owner may file a court action for partition.
An undivided interest means that two or more persons have an interest in a property held under the same title. The undivided interest encompasses the whole property, and its holders have equal rights to the entire property. The undivided interest is not separated into parts or shares.
Attorney Involvement All legal documents must be drafted by an attorney licensed to practice in the State of Alabama. Parties to a transaction can draft their own documents if they are doing so on behalf of themselves.
This easement is typically granted by property owners to an electric utility for constructing, operating and maintaining power lines and other equipment. Before a power line is built, we acquire easements from property owners along the selected route as necessary.
Joint tenancy is a type of joint ownership of property in the field of property law, where each owner has an undivided interest in the property. This type of ownership creates a right of survivorship, which means that when one owner dies, the other owners absorb the deceased owner's interest.
What is tenancy in common? Tenancy-in-common is ownership of property between two or more people. Each of the owners owns a percentage of the property, called an undivided interest.