Splitting a contract

[wayno]

Here's an interesting question. My mom owns a 300 point contract at OKW. I told her I was planning opn buying a contract of my own, and she told me someday I would get 150 of hers and my brother would get the other 150. I didn't think this was possible, but it was an interesting question. I wound up purchasing my own contract last month at BWV through a resale, and hopefully my mom will be around through 2042, and it's a moot point to me.

But... Has anyone had any experience with this? Is it possible to break a contract to leave as an inheritance through a quit claim deed or any other such vehicle? Or would they need to be kept as a single contract no matter what the circumstances?

Thanks,
Wayne

 

[Dean]

Single contracts cannot be split, period. Of course you could be be listed on her conctract as co-owners.