How Can a Former Spouse or Survivor Assert Entitlement to Surplus Funds Following the Owner’s Death or Divorce?
How Can a Former Spouse or Survivor Assert Entitlement to Surplus Funds Following the Owner’s Death or Divorce? Detailed Answer Surplus funds arise when a foreclosure or tax sale produces more proceeds than the amount owed on the property. In Mississippi, the surplus sits with the Chancery Clerk or Tax Collector until a valid claimant […]
Read article →What Rights Does a Life Estate Grant to a Lifetime Beneficiary and How Is a Remainder Interest Determined Under Mississippi Law?
Detailed Answer Under Mississippi law, a life estate grants the lifetime beneficiary (the "life tenant") certain rights to use, possess and enjoy real property for his or her lifetime. The life tenant may: Occupy and live on the property. Collect rents, royalties or other income generated by the property, unless the will or deed limits […]
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