The "fractional share" rule for joint tenancy property, which was enacted initially in 1976 and became fully effective for deaths after 1981, has generated a problem for deductibility of mortgage obligations on the property involved. Careful planning attention should be given to the situation if problems of deductibility are to be avoided.
"Deducting Mortgages on Joint Tenancy Property,"
Agricultural Law Digest: Vol. 6
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol6/iss19/1