Please, what is a tontine agreement?
Many thanks!
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What is a tontine agreement?
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What is a tontine agreement?
by Robertos on Thu 20 Nov 2008 20:15
- Robertos
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Re: What is a tontine agreement?
by Mitchelline on Thu 20 Nov 2008 20:17
When multiple individuals own a piece of real property, concerns may arise about the status of the property after the demise of one of the owners. In France, the issue of rights of survivorship can be addressed by use of the Tontine agreement.
The purpose of the tontine clause is to ensure that when multiple individuals own a piece of real property, ownership passes to the surviving owners when there is a death.
The purpose of the tontine clause is to ensure that when multiple individuals own a piece of real property, ownership passes to the surviving owners when there is a death.
- Mitchelline
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