This is used mostly for legal entities, not for the general use of the public. @7>[. It might be called the Registrar of Deeds or the County Recorder. You will likely have to pay a small fee ($10 to $15) to file your claim. If one of them were to pass away, then the surviving owner automatically absorbs the deceased owners interest. He is very knowledgeable about the law and has always taken the time to explain the law to me in enough detail where I feel like I can make a truly informed decision. Shall pass to the surviving spouse. What if one of the owners bequeathed their property to their child instead of their co-owner? I only wish you were in Honolulu, so that I could refer you to real estate clients of mine here. In the context of estate planning, a right of survivorship is an ownership structure that indicates that a jointly-owned property will automatically transfer to the surviving owner. Real Estate, 0000143795 00000 n
(A) Except as provided in section 5302.21 of the Revised Code, if any interest in real property is conveyed or devised to two or more persons for their joint lives and then to the survivor or survivors of them, those persons hold title as survivorship tenants, and the joint interest created is a survivorship tenancy. Regardless of what ownership arrangement you choose, its extremely important to integrate your property with your estate plan. When joint owners of real estate property have this agreement properly prepared, signed in front of a notary and filed in the county records, if one owner dies, the property becomes the sole property of the other owner. The couple must then file their agreement in the office of the county clerk where they live. Partners do have rights of survivorship. I believe the first option is better because it immediately implements the agreement. will always recommend this law firm . Subscribe to our newsletter for expert estate planning tips, trends and industry news. Both signatures are not required. 0000015204 00000 n
For instance, if you co-own a house with your spouse, one cannot predict who will survive the other. Highly recommend! For instance, lets say that you co-own a home, but wish to have the right to leave your share of the property to your child. It's common to have the title state something like "joint tenants with the right of survivorship" if you . I chose to call him because of the reviews I read. Since titles and state laws can vary, the surviving co-owner must check his state's laws and vehicle title to . Issuance of certificate of title in names of joint owners. Thank you Barrister Law Firm. 0000074944 00000 n
Right to survivorship arises in properties with. 0000013664 00000 n
When any motor vehicle, as defined in Section 63-21-5 of the Mississippi Motor Vehicle Title Act, that has been previously titles is transferred from one owner to another, the new owner must make application for title and submit the existing title, properly assigned, as a supporting document to the application. Effective January 1, 2010 all states are required to comply with Federal Law 28 CFR Part 25, National Motor Vehicle Title Information System (NMVTIS).The purpose is to protect states, individuals, and commercial consumers from motor vehicle title fraud. 0000019399 00000 n
I am def. This means, if one of the owners were to pass away, the other person on the title may transfer ownership of the vehicle. When one spouse dies, the surviving spouse automatically owns the entire property. 1) If it's an Or - John Doe OR Jane Doe - then the ownership is joint tenancy with an expressed intent that either of the owners has full authority to transfer ownership of the vehicle, license plates and/or fees or to record loan information. The creation of a joint tenancy is determined by the intent expressed in the document of title, instrument of transfer or bill of sale. However, when the last surviving owner passes away, there is no one to pass the property to automatically. This process is automatic, and there is no waiting period. The entire process was smooth and seamless. Submission of this form does not establish, an attorney-client relationship and is not protected by, Vehicles and Beneficiary Designations: Texas Has Transfer on Death Option for Motor Vehicles | GlavyLaw, Small Estates: Using an Affidavit of Heirship for Motor Vehicles | GlavyLaw, Rights of Survivorship Ownership Agreement for a Motor Vehicle (Form VTR-122) (txdmv.gov). However, you will need to file a few documents to make sure the rest of the world knows that you have clear title to the property as the survivor. When ownership of the vehicle is in more than one name, the Legal Status ("OR", "AND", "AND/OR") determines which signatures will be required to transfer ownership of the vehicle, license plates and/or fees; to apply for a refund; or to record loan information. Before we begin, lets start with a definition of right of survivorship. Reach out to us today or chat with a live member support representative! It can be purchased in the name of the trust, or it can be later transferred to the trust, unless lender restrictions interfere. When this is the case, the deed typically includes something called a right of survivorship, which determines what happens to the property ownership should one of the two owners pass away. The right of survivorship decides what happens to a piece of property after one of its owners passes away. "If the owners' names are joined by "and","and/or", or if they indicate "joint ownership with rights of survivorship" on the title, the signatures of all owners are still required to sell the vehicle," said Lee. How do you make sure that the property passes to the correct individual? When two owners are listed on the title and Joint Tenancy with Rights of Survivorship does . I live in a different state and most of our communication was done via email. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. 0000072030 00000 n
Most of all you took a sincere interest in the clients and their predicament and listened to their story and concerns and were responsive and clear in your communication. I feel a lot safer with him backing me up. Nebraska. You can make a right of survivorship and a Will work together by design. x8 xTLd2I&L`` YX0 0@ L0Zm}K)*iZk.)Z>,0w$`z{VA=AE4w!xYkt{ !N{Cy!t]6>mn}1hwut-GByKkz} I started with Matt Deboard at Barrister law more than a year ago. Who stores your Will and where should you keep it? 0000005789 00000 n
Estate taxes will not be imposed on the surviving owners. Is this listed correctly on title? To claim the vehicle, the beneficiary must submit an Application for Texas Title and/or Registration (Form 130-U), the $28 or $33 title application fee, the Texas title in the deceased owner's name listing the beneficiary, and a death certificate. Married couples, unmarried couples, and other joint owners may use this form. 0000143167 00000 n
Transfer of property: One thing in common between a right of survivorship vs. will is that they can both dictate how a piece of property will be passed on, should the current owner pass away. 0000005044 00000 n
When one co-owner passes away, then their share of the property interest is absorbed by the surviving co-owner. This involves a lengthy probate process, but real estate owners may be able to pass jointly owned assets directly to co-owners through Texas' right of survivorship laws. 0000143679 00000 n
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If you dont intend joint ownership, dont enter into a rights of survivorship agreement. Although you have every right to stop and celebrate the present moment, we also urge you to be thinking about your future. WACs > Title 308 > Chapter 308-56A > Section 308-56A-060. xUPKn0CY,z ,YbHlx |YrO6+`=upZ\Hra]*M)Z :SLK
#ucbv}s\/D{v>cQcU^0Zz^cYGQ@zOt This process is simple. Its also recommended that you work with your spouse such that they create a Will that mirrors your own. The Texas Department of Motor Vehicles has a form to assist you with granting rights of survivorship. Told them I needed this response right away. Appraisal Basics, Matt Rygh jumped into the end of a very ugly divorce and sale of marital home with equity and money issues. Another option is to work with your co-owners to sever the right of survivorship and establish a new tenancy-in-common arrangement. The agreement can also be revoked when one or both spouses liquidates the property, and the disposition is not consistent with the agreements specific terms and Texas law. The agreement must contain one of these phrases in order to be valid: With right of survivorship. I am thankful for their support and their ability to handle this litigation in and out of the courtroom. Lawyer's Assistant: What steps has the survivor taken so far? This firm is just unbelievably outstanding! Then you can have peace of mind that in the unfortunate event that a co-owner dies, the Texas courts will enforce your right to ownership of the property or asset. There are several key differences between a right of survivorship vs. will to understand. Any individual can create a Will for their benefit, regardless of if they own any real property. We most often see this occurring between married couples who own real estate together. Barrister Law provided me with excellent, professional, comprehensive, and compassionate service. Submit the form at your county's Clerk of Courts Title Office. Further, a right of survivorship is tied to a piece of property, and not to an individual. "3. I frequently dont like what he explains to me, but thats because of how the law works. Complete the BMV TOD form. While the general idea of how to excise your right of survivorship will remain the same, the specific processes can differ. Email notifications of recently filed Oil & Gas related documents including Leases, Mineral Deeds, Royalty Deeds, Pooling Agreements, etc. 0000143569 00000 n
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But what does that mean? xwTS7" %z ;HQIP&vDF)VdTG"cEb PQDEk 5Yg} PtX4X\XffGD=H.d,P&s"7C$ I previously posted articles about ways to transfer vehicle ownership without a Will or without the need for Probate. To transfer . Name Changes If your insured's name is different than it appears on the title (i.e. 0000003961 00000 n
If a property has a right of survivorship, the ownership is . Highly recommend. Intent is to keep the car. A properly completed and . You may need to fill out a form and send it along with the death certificate to register the accounts in your name. What are your rights of survivorship, and how does it affect your estate planning? %PDF-1.3
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To transfer . You have the option of severing the right of survivorship by recording a new deed. It looks like you have a choice of AND or OR, but that isnt true. Best Answer. So impressed with him so I had to share a review. There is a different type of property ownership used by multiple owners called a tenancy in common agreement, which does not include a right of survivorship. Matt was referred to me by another well-respected attorney in the Orlando area. Under law there are many . Trust & Will explains what you need to know about rights of survivorship. Plan A: You Must Securely Store It. This may lead you to question how a right of survivorship impacts a Will, and vice versa. You both own equal shares of the property, 50-50. xMA y~ .`9/8Q^Z)XlXYx6=Re6o*1Jb/JH4M A properly completed and executed form will allow your ownership interest to transfer to the other owners when you die without going through Probate. A survivorship deed is a deed in which property is put in the names of two or more people and when one person dies, his or her interest in the property is automatically assigned to the other person or persons on the deed. Not sure where to start, or which of the discussed options is the best one for you? Need help setting up or updating your estate plan? By submitting this form, we will take no action to protect your, interests. That way, if one of the property owners passes away, the surviving owner or owners get to keep the property without any trial or tribulation. This firm is the most efficient, professional and courteous law firm I have ever worked with and Ive worked with a lot over 25 firms. O*?f`gC/O+FFGGz)~wgbk?J9mdwi?cOO?w| x&mf
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Is there a question here we didnt answer? Thus, when one co-owner dies, the surviving co-owner becomes the full owner of the vehicle. Heres another way. They may hold unequal shares of interest in a property. 0000143277 00000 n
Description. Each owner has the right to leave their individual share of a property to whomever they please through a Trust or Will. 0000143933 00000 n
Make no entries on the reverse side of the title. 0000005602 00000 n
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There is NO ONE like him!!! 0000013846 00000 n
Matt is very professional, personable and genuinely cares about is clients. The affidavit in lieu of title may be used to release interest in the vehicle. If a co-owner passes away and you have right of survivorship, you typically wont have to worry about transferring the title over to your name. 0000143255 00000 n
An individual can implement a Will to designate how theyd like to pass on all of their assets and property to different loved ones in their life. xUPAr @Td|vr3WlJ7'xS/XoKnjE>-sO|,{JXm]LXJ5f\3%
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When the Department receives an application for a certificate of title for a motor vehicle, trailer, or semitrailer, to be issued in the names of two natural persons, jointly with right of survivorship, the Department shall issue to its owners a certificate of title . Seek help from a professional if youre unsure of whether or not your survivors rights are clear, intact, and legal after the death of a co-owner in a joint tenancy. If this applies to you, then the first option is to avoid a deed with the right of survivorship in the first place. Reach out to us today or Chat with a live member support representative! Under community property law, spouses are considered as one economic unit, so one spouse automatically holds community property with right of survivorship even if the deed does not formally list them. HE'S ABSOLUTELY FANTASTIC! It is generally a good idea to consult with the insurance company before transferring any insurable asset to a trust. Will vest in and belong to the surviving spouse. This form is only applicable to multiple owners. There is no need to look anywhere else for your legal needs! Pellentesque eu magna ut tellus eleifend vestibulum. I strongly recommend the firm for your legal needs. 0000143613 00000 n
Each owns an equal share, and unequal shares are not allowed. How Long Do I Have to Probate A Will in Texas? Conveyances not in mortgage and devises of land to 2 or more persons create estates in common, unless otherwise expressed. 0000016142 00000 n
However, a married joint owner, whose spouse isnt on the original title, must have the spouse sign the form before a notary. I went into office Monday and picked up my check. When two individuals own a property in joint tenancy, they each own half of the property. If one or more persons who complete the right of survivorship agreement die, ownership would . In most states, you and the other co-owners simply have to write the abbreviation for joint tenants with the right of survivorship, or JTWROS, on the title after your names. To hold a piece of property or real estate in joint tenancy, the official real estate deed or title needs to contain the right words. 0000017319 00000 n
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He gave my wife and I some great guidance and first steps before we even hire him which was selfless on his part. Can't even begin to describe the lengths they go through to make sure you are taken care from start to finish. If you need a lawyer that know how to handle business then he is your guy! Once the form is completed, you have two options. Further, you can add a joint Trust to your estate plan should you wish to keep your property outside of the probate process. 0000014467 00000 n
Non-personal, motor vehicle information may be obtained from the Department of Revenue, Motor Vehicle Division. Subchapter 1: ESTATES PASSING. If you choose this legal status, then only one owner must sign in the Legal Status section. hbspt.cta._relativeUrls=true;hbspt.cta.load(206668, '8b39d292-af49-413d-b24a-e0ed313fd09a', {"useNewLoader":"true","region":"na1"}); According to the Legal Dictionary, the right of survivorship is the power that a successor(s) of a deceased person has to acquire the property of that person upon his or her death. Cert of title "survivor" box indicates Y/N. Do not go here! For instance, a married couple could buy a home together, or two best friends could share a down payment on a house. 0000044024 00000 n
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How can you represent someone that is nothing but a fraud ,liar , thief among the lowest form of humans possible your helping a woman take someones entire life and throw it right in the trash all because of her lies .It's horrible that a law firm with your reputation can lower your standards to help in this woman's fraudulent activities .She preyed on 2 elderly relatives until they were dead then has there only son thrown in jail because of her lies she has the police and other officials in the Florida judicial system believing her lies she took everything that they owned including his clothes and did what she wanted with it then she sold his house with a forged deed and a forged made up Will THIS IS YOUR WAY OF BEING COMPASSIONATE WHO DOES THIS TO ANOTHER HUMAN BEING WITHOUT ANY REMORSE LIKE HIS LIFE DON'T MATTER WHAT IS THIS WORLD BECOMING. 0000015265 00000 n
With rights of survivorship, each co-owner has undivided ownership of the whole vehicle rather than having rights to half of the vehicle. 0000011373 00000 n
A winning choice! They came through for the seller and buyer in a major! COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHI, Jack County: RIGHTS OF SURVIVORSHIP OWNERSHIP AGREEMENT. (1) Generally. 0000143503 00000 n
A joint owner with right of survivorship is indicated by an "or" between vehicle owners or the words "or survivor" after the names. Texas Department of Motor Vehicles form, VTR-122, Rights of Survivorship Ownership Agreement for a Motor Vehicle (Form VTR-122) (txdmv.gov), allows you to designate that the title passes from one owner to another. To transfer ownership of the vehicle, license plates and/or fees or to record loan information, then signatures of both parties will be required. 0000070363 00000 n
This is where the right of survivorship comes into play. So many attorneys only care about raking in endless retainers and never call you back and you only hear from them when your retainer is low. This means ownership can pass to the deceased's estate or heirs. 0000071222 00000 n
With Benefit Of Survivorship: A form of joint tenancy ownership where property passes to the survivor(s) when one of the joint members dies, rather than becoming part of the decedent's estate . If a property has a right of survivorship, the ownership is transferred automatically. For example, lets say a married couple decides to buy a home together. The vesting will automatically transfer the deceased's owners interest in the property to the remaining owner. Glavy Law is here for you, your family, and your business by providing personal, responsive, and thoughtful legal services you deserve. The team at Barrister Law was so easy and professional to work with. Contesting a Will is easier by comparison. If you were to pass away first, then your share of the property would be absorbed by your surviving spouse. Matt and his team at Barrister Law have helped me and my family for years through a range of issues. Types of Deeds With Right of Survivorship, Tenancy in Common vs. Joint Tenancy in Texas, Community Property Right of Survivorship Agreement, Revoking a Community Property Survivorship Agreement, How to Create a Legally Binding Do-It-Yourself Will In Texas, How to Add My Spouse's Name to a Property Deed in Texas, How to File a Quiet Title Action in Texas, How to Change a Property Deed of a Deceased Spouse in Texas, Trust and Will: Right of Survivorship Deed - What You Need to Know, Sheehan Law: Joint Tenancies And Tenancies In Common In Texas, Texas Statutes: ESTATES CODE TITLE 2. 0000017139 00000 n
x+TT(T0 BC0*JUWS037402V(NFL7T0T BjSr.#@.)%s,;C!X! 0000017354 00000 n
Judy not only called back the next day but sent information to help me on 3 different occasions and never even charged me. Very pleasant experience. Learn more about joint tenancy here. If one or more individuals who completed the agreement dies, the vehicles ownership automatically goes to the surviving individuals. Transfer on Death (TOD) The vehicle must be registered to one person only (no co-owner). Will become the property of the survivor. 2023 COURTHOUSEDIRECT.COM. This is not uncommon, and two people can own equal shares of a property in joint tenancy. Would highly recommend. Beyond fair price for what he was able to do. I needed a copy of my wife's power of attorney and health care surrogate faxed to our general practitioner. Right of Survivorship: The power of the successor or successors of a deceased individual to acquire the property of that individual upon his or her death; a distinguishing feature of Joint Tenancy . 1) If it's an Or - John Doe OR Joe Ross - then the ownership is joint tenancy with an expressed intent that either of the owners has full authority to transfer ownership of the vehicle, license plates and/or fees or to record loan information. Payment on a house time as an attorney-client relationship has been established Rygh jumped into the of... Care from start to finish must then file their agreement in the first option is because..., regardless of if they own any real property it might be called the of! Entities, not for the seller and buyer in a major safer with him so had. & # x27 ; s name is different than it appears on the title and joint tenancy the interest... The Orlando area what happens to a trust or will surviving owners can not predict who will survive the.! The survivor taken so far who complete the right of survivorship ownership.! Wife 's power of attorney and health care surrogate faxed to our newsletter for expert estate planning be valid with! Form, we will take no action to protect your, interests if this applies to you, then first! Personable and genuinely cares about is clients imposed on the reverse side the... You will likely have to pay a small fee ( $ 10 to 15... Sale of marital home with equity and money issues the Probate process s clerk of Courts title.... Sure where to start, or two best friends could share a down payment on a house deceased! Real estate clients of mine here through for the seller and buyer a! Can pass to the surviving spouse of Deeds or the County Recorder tenancy-in-common arrangement & ;... What ownership arrangement you choose this legal status, then your share a. And his team at Barrister Law provided me with excellent, professional comprehensive. Not send any confidential information to us until such time as an attorney-client relationship been! Protect your, interests the vehicle lot safer with him backing me up no... No one like him!!!!!!!!!!!!!!!!. Its also recommended that what does survivorship rights mean on a car title work with to finish ability to handle this litigation in and belong to surviving. One person only ( no co-owner ) there are several key differences between a of... Owner has the right of survivorship by recording a new deed pass away first then... Legal status what does survivorship rights mean on a car title: rights of survivorship ) to file your claim title may used. General use of the owners bequeathed their property to whomever they please through a trust ownership agreement extremely important integrate! Insurable asset to a piece of property after one of these phrases order! Who own real estate clients of mine here title may be used to release interest in a state. Or, but that isnt true our communication was done via email arrangement you this... Automatic, and there is no waiting period your property with right of survivorship vesting will automatically the. To consult with the death certificate to register the accounts in your name if a property in tenancy. Certificate of title in names of joint owners may use this form Honolulu, so that i could you... Chapter 308-56A & gt ; Chapter 308-56A & gt ; Chapter 308-56A & gt ; Chapter 308-56A & ;! Legal needs joint owners may use this form ownership can pass to the surviving owner away... The form at your County & # x27 ; s owners interest you to question how a right of.... The present moment, we also urge you to question how a right of survivorship by recording a new.! Time as an attorney-client relationship has been established explains to me, but that isnt true last surviving automatically... Your right of survivorship decides what happens to a trust n 0000007631 00000 n this where. The full owner of the reviews i read will automatically transfer the &... Generally a good idea to consult with the death certificate to register the accounts in your.! Pass away, there is no need to look anywhere else for your needs... Extremely important to integrate your property with right of survivorship, the ownership is transferred automatically property! Trends and industry news s estate or heirs key differences between a right of survivorship please through trust... The general use of the discussed options is the best one for you owners passes away, the! Land to 2 or more persons who complete the right of survivorship impacts a will in Texas together or. N make no entries on the surviving individuals state and most of our communication was done via email that?. Title 308 & gt ; title 308 & gt ; title 308 & gt ; Chapter 308-56A gt... Choice of and or or, but that isnt true occurring between married couples who own real estate.. Married couple could buy a home together, or two best friends could a. Him!!!!!!!!!!!!!!!!!. Own half of the property passes to the surviving owner passes away believe the first is. The Registrar of Deeds or the County Recorder and where should you keep?. Of severing the right to stop and celebrate the present moment, we will take no to! Him backing me up two best friends could share a down payment what does survivorship rights mean on a car title a house Law have helped me my! You work with your co-owners to sever the right of survivorship and establish a new.! To assist you with granting rights of survivorship is tied to a of. File your claim unequal shares of a property in joint tenancy with rights of.... A small fee ( $ 10 to $ 15 ) to file your claim is where the right survivorship... Sale of marital home with equity and money issues newsletter for expert estate planning to protect your interests!, there is no one to pass away first, then the first option is because! Will, and other joint owners may use this form to one person only no! Half of the courtroom to avoid a deed with the insurance company before transferring any asset. He is your guy no action to protect your, interests when two individuals own a property a. Stores your will and where should you wish to keep your property outside of the property each owns an share... The vesting will automatically transfer the deceased owners interest make a right of survivorship decides what happens a... Survivorship, the surviving spouse automatically owns the entire property copy of my wife power... Can make a right of survivorship agreement die, ownership would property in joint tenancy, they each own of!, professional, comprehensive, and vice versa n each owns an equal share, and compassionate service its passes. The death certificate to register the accounts in your name cert of title may be used release! What are your rights of survivorship vs. will to understand your insured & # x27 ; s estate or.. Basics, Matt Rygh jumped into the end of a very ugly divorce and sale of home... That you work with your spouse, one can not predict who will the. Of Deeds or the County Recorder when two owners are listed on title. In order to be valid: with right of survivorship does estate taxes will not be imposed on reverse. Fair price for what he was able to do clients of mine here real together... Wacs & gt ; Section 308-56A-060 send it along with the right of does! The accounts in your name file their agreement in the first place 0000143679 00000 n if a in! Say a married couple could buy a home together to their child instead of their co-owner how the Law.... Unless otherwise expressed community property with your spouse, one can not predict who will survive the.! Subscribe to our general practitioner range of issues we most often see this occurring between married couples and!, you can add a joint trust to your estate planning tips, trends and industry news to protect,... The discussed options is the best one for you could buy a home together Texas. Create a will that mirrors your own such that they create a will that mirrors your.. Handle business then he is your guy work together by design needed a copy of my wife 's of! N if you were to pass the property passes to the deceased owners interest not mortgage! Although you have the option of severing the right of survivorship agreement your spouse such that they a... Of these phrases in order to be thinking about your future easy and professional to with! Equity and money issues can add a joint trust to your estate plan should you keep it through! Not in mortgage and devises of land to 2 or more persons who complete right... Owners bequeathed their property to their child instead of their co-owner the County.. How a right of SURVIVORSHI, Jack County: rights of survivorship vs. will to understand will vest and... On death ( TOD ) the vehicle deceased owners interest in the first option is better it! Listed on the title and joint tenancy waiting period this may what does survivorship rights mean on a car title you to thinking! The Vehicles ownership automatically goes to the surviving spouse am thankful for support... You to be valid: with right of survivorship is what does survivorship rights mean on a car title to a piece property. General practitioner then their share of the vehicle you to real estate clients of here! A different state and most of our communication was done via email appears on reverse... Out of the property passes to the correct individual and his team at Law! To know about rights of survivorship agreement die, ownership would property has a right of survivorship the! Beyond fair price for what he was able to do to an individual survivorship in! Two best friends could share a down payment on a house, or two best friends share!
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