joint tenants with right of survivorship vs husband and wife

Joint Tenancy with Right of Survivorship. To hold real estate in joint tenancy, the deed should use the words "as joint tenants with rights of survivorship, and not as tenants in common," just to make it crystal clear. This can be emotionally as well as financially beneficial to a spouse who has to cope with the loss of a loved one – bank accounts designated as JTWROS have been used for many years because of their ease of administration to address issues like these. Usually, the car's certificate of title must spell out that you own the car together "in joint tenancy with right of survivorship." When a joint tenant dies, his or her interest in the asset vests in the surviving joint tenant or joint tenants. We sometimes see a husband and wife owning property and thinking they owned it as joint tenants with rights of survivorship. With a joint tenancy, the survivor or survivors inherit the ownership interest of the decedent. Joint tenancy with right of survivorship is covered in ARS 33-431. So, three owners would each have a one-third interest in the property. In Illinois, a title can be held in three ways: tenancy by the entirety, tenants in common, or joint tenants with the right of survivorship. The basis rules for joint tenancy property can get a little complicated, as they differ for income tax purposes, estate purposes, and whether the joint tenants are married or not. But you should speak with a real estate lawyer and carefully consider each of the ways to hold title, and discuss the pros and cons of each before making your final choice. This case demonstrates the second type of express disclaimer contemplated by Beal Bank. Joint tenancy is a way of avoiding probate simply by putting the words "joint tenancy" in the title of an asset. Tenancy in common is a form of ownership where each owner holds an undivided interest in the property. Tenancy in Common A joint tenancy can be broken if one of the co-owners transfers or sells his or her interest to another person, thus changing the ownership arrangement to a tenancy in common for all parties. A tenancy in common is a simple and flexible form of joint ownership, but it does require probate when an owner dies.Under tenancy in common, two or more people can own property together, in equal or unequal shares. The property will pass instantly to the survivor upon the death of the other without probate. Each owner may sell is or her share independently and may also leave his or her share to a new owner at death. Then there's the matter of taxation. Recording the death certificate is all that is necessary to clear the title as a matter of public record. What is the right of survivorship? For joint tenants with a right of survivorship the interest of the one … What is a Summary Administration Under Florida Probate Law? Learn the Notable Differences Between a Will and a Trust. When one joint owner (called a joint tenant, though it has nothingto do with renting) dies, the surviving owners automatically get thedeceased owner's share of the joint tenancy property. One spouse dies and it is not until the other gets ready to sell the property that this is discovered. To best create this type of ownership the parties can take title as … No joint tenancy between spouses; property becomes survivorship marital property. Tenancy by the Entirety. If three siblings are tenants in common for a property they each have a 1/3 undivided interest. There is a presumption in Maryland that property held by husband and wife is held as tenants by the entireties, even if it is not specified. If the brother, his sister and the sister's husband all held title as Tenants in Common, the brother could not ask his brother-in-law to leave the property, if the sister dies. With joint tenancy, on the other hand, two or more persons own the property creating a right of survivorship. Tenants in Common. Therefore, “[o]ne who signs a contract is presumed to know its contents.” Addison v. Carballosa, 48 So.3d 951, 954 (Fla. 3d DCA 2010). The third way property can be jointly held in North Carolina … Tenants in common can hold equal or unequal shares, and interests can be acquired at different times. a right of survivorship exists. The legal name of a joint tenancy is "joint tenancy with right of survivorship," or JTWROS. & Attractions, Inc., 330 So.2d 171, 172 (Fla. 4th DCA 1976). On the death of an owner, the property passes automatically to the surviving owners. Adding a right of survivorship designation to joint tenancy (abbreviated as JTWROS) is typically favored by married couples and family members because it simplifies the transfer of ownership when a co-owner dies. One of the main differences between Joint Tenancy with Right of Survivorship and Tenants in Common is how the title is transferred after death, and the rights of heirs. The big risk? This is called the right of survivorship. A disadvantage to … Creditors’ Claims Against Joint Tenancy With Right of Survivorship. A price support works like this: the … Florida adheres to the principle that a “party has a duty to 1101*1101 learn and know the contents of a proposed contract before he signs” it. "Joint Tenancy." There was a huge courtroom battle over money held in the bank accounts, with the Florida appellate court deciding that the accounts were held as Joint Tenants With Right of Survivorship, reversing the trial court’s ruling, allowing the widow to be respected as the sole owner of the bank account. Risks of Joint Tenancy With Right of Survivorship as an Estate Planning Tool: The Creditor Pops Up. Especially when it comes to real estate, all law is local, so be sure you know your state’s rules on what language is required to create a joint tenancy with the right … Wisconsin. Thus, the deceased's share automatically passes to the surviving joint tenant. When the Riches signed the account agreements, they “expressly select[ed]” a form of account ownership other than a tenancy by the entireties, within the parameters set by the Supreme Court in Beal Bank. Should You Buy a Home With Your Partner Before Marriage? Accessed March 8, 2020. If persons named as owners in a document of title, transferees in an instrument of transfer or buyers in a bill of sale are described in the document, instrument or bill of sale as husband and wife, or are in fact husband and wife, they are joint tenants, unless the intent to create a tenancy in common is expressed in the document, instrument or bill of sale. The third way property can be jointly held in North Carolina is a joint tenancy with right of survivorship. The propertydoesn't go through probate court—the survivor(s) need only shuffle some simplepaperwork to get the property into their names. Some purchase contracts even contain a provision that this is how a buyer will hold title. By using The Balance, you accept our. Florida banks, credit unions, and financial institutions all allow bank accounts held by ”joint tenants with right of survivorship” and usually there is no problem with a bank recognizing these accounts as being the sole property of the surviving tenant when one of the owners passes away. The property will pass instantly to the surviving spouse upon the death of the other spouse without probate. Accessed March 8, 2020. Joint Tenancy With Right of Survivorship. When you apply for a title certificate for the car, your state's motor vehicles agency (or the seller) should be able to tell you what words to use to achieve the result you want. Joint and Survivorship Most married couples hold title to property in both names as tenants by the entirety. Posted By Larry Tolchinsky on December 26, 2013. Texas includes on its certificates of title a "Rights of Survivorship Agreement Form" for husbands and wives to sign. Joint Tenancy with the Right of Survivorship. The law allows two or more people to own property together in several ways, including through joint tenancy. An example of a grantee clause that creates joint tenancy is “John Smith and wife, Mary Smith, as joint owners with rights of survivorship as provided by Estates Code Section 112.051, and not as tenants … If the creditor is successful and obtains a judgment from that lawsuit, it can use the judgment to collect against the assets of the debtor, including assets held as a Joint Tenant With Right of Survivorship — this can be done even if the other person owning the asset, had no idea that the debt existed (certain exceptions apply, including assets held by husband and wife). A joint tenancy with right of survivorship is a common form of co-ownership in which each owner has a right of survivorship with respect to the other owners. A possible consequence of Joint Tenancy with Right of Survivorship is if a joint tenant dies, that joint tenant cannot bequeath the property to an heir, other surviving relatives or to anybody else. Usually, bank accounts between a husband and wife are held as JTWROS because when one spouse dies, the surviving widow or widower can freely use and access the account without the need to file a probate. We won't go there. (iii) Joint tenancy may not be established between a person and an … State Laws. There are other risks besides the surprise creditor when someone holds property in a Joint Tenancy with Right of Survivorship to someone else. That's for lawyers to discuss, but the likelihood is the Joint Tenancy will allow the home to pass 100% to the brother, and, hopefully, the brother is kind enough to let his brother-in-law stay for a while. Joint tenancies with right of survivorship authorized — Methods of creation — Creditors' rights saved. If you want to set up a joint tenancy in Texas, you and the other joint tenants must sign a written agreement. In this arrangement, tenants have an equal right … Creating a joint tenancy with someone other than your spouse can result in a taxable gift, if you cannot remove funds from the account without the consent of the other joint tenant. Upon death, the deceased spouse's ownership interest in the property is automatically extinguished. Special State Requirements. Joint tenancy creates a right of survivorship, so upon the death of one party, his or her share will pass on to the remaining joint tenant(s). This type of ownership is very similar to a tenancy in common, with one crucial difference—the right of survivorship. There is no gift tax consequence for tenancy by the entirety because the … The basis rules for joint tenancy property can get a little complicated, as they differ for income tax purposes, estate purposes, and whether the joint tenants are married or not. Joint Tenancy is two or more single individuals as “joint tenants with right of survivorship and not as tenants in common”. Title may be held as "Sole and Separate." Sample Vesting: John Jones and Jane Jones as tenants by … On the death of an owner, the property passes automatically to the surviving owners. Florida Court Rules Palm Beach’s Ruth Perelman Estate Will Be Probated in Pennsylvania: The First to File Lesson For Those Owning Homes in Florida and Elsewhere, Florida Probate Law: Why You Need Strict, Careful Drafting or Risk a Surprise Result in Probate Court Fight: The Lesson of Cessac v. Stevens. It can create quite a mess, take a while to clear up and ultimately delay the closing. Mason dies first, … when the real estate is valued at $2,518,100. A modification of joint tenancy between husband and wife only. When one joint tenant dies, the others take her share by operation of law. If you found this information helpful, please share this article and bookmark it for your future reference. Unmarried couples who buy property and subsequently marry each other should re-title the deed as tenants by the entirety to avail themselves of the greater protections this form of tenancy offers. A tenancy by the entirety, which only applies to a husband and wife, and each spouse has the right of survivorship -- is presumed when a disposition grants a property interest to a husband and wife, unless the disposition expressly states that it is a tenancy in common or a joint tenancy. Joint Ownership . Mfrs.’ Leasing, Ltd. v. Fla. Dev. Joint tenancy automatically creates a right of survivorship upon the death of one co-owner. "Community Property." A joint tenancy with right of survivorship is a common form of co-ownership in which each owner has a right of survivorship with respect to the other owners. Freedom of contract “includes freedom to make a bad bargain.” Posner v. Posner, 257 So.2d 530, 535 (Fla.1972). Community Property vs. Joint Tenancy. Joint tenancy with right of survivorship, therefore, is a popular estate planning tool in the State of Florida. Pennsylvania's tax … by Phoenix attorney Christopher A. Combs, partner with Combs Law Group, P.C. While the account was Joint Tenants with Right of Survivorship, I never contributed to it; all funding for all stock/fund purchases was provided by my husband. General Warranty Deed (with Survivorship Rights) Couples who hold title to property as unmarried, but wish to have Survivorship Rights. The key difference between joint tenancy and tenancy in common is what happens on the death of an owner. Learn more about tenancy by the entirety. Mason buys real estate for $1,937,000 and lists ownership as follows: Mason and Dana, joint tenants with the right of survivorship. How Will Probate Affect Your Tenants-in-Common Property? They each have an equal right to possession. You can see why this issue of ways to hold title can become very complicated for a home buyer at the time of purchase. The last living owner inherits the entire property. One of the main differences between Joint Tenancy with Right of Survivorship and Tenants in Common is how the title is transferred after death, and the rights of heirs. Upon the death of either husband or wife, full title passes to the survivor. I presume that a real person set up the trust. Survivorship rights means if one joint tenant dies, the interest of the deceased joint tenant passes to the other joint tenants. (S.C. Code Ann. The Balance uses cookies to provide you with a great user experience. The joint tenants share an equal ownership in the property. To create such an estate, the deed must reflect the above verbiage and should contain the following acknowledgement signed by the … Before you decide, ask us to send you free written information about our qualifications and experience. How You Hold Title to a Property Deed Affects Legal Ownership, What Happens to Jointly Owned Property When You Die. Tenants by the Entirety: Does Your State Recognize This Ownership? But joint tenancy can have drawbacks, as explained on this web page. Joint tenancy has a right of survivorship; when one owner dies, the interest is extinguished and the other owners assume the ownership. Most creditors with outstanding debts will, of course, take steps to make sure that the debt owed gets paid…and one of the ways that the creditor will do this involves the creditor actually filing a lawsuit. Usually, all that is requires is to record an affidavit reciting that one owner died and that title is vested in the remaining owners. For example, if a married couple owns their house as joint tenants, each spouse owns an equal interest in the house. The Example of the Riches’ Bank Account in Wexler v. Rich: a Joint Tenancy Fight. The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Most states recognize joint tenancy, yet some of these have abolished the “right of survivorship” as an automatic characteristic of joint tenancy. Therefore, it is important to consider the way a property is owned when preparing wills and an estate plan. The advantage to joint tenancy is that it avoids having an owner's interest probated upon his death. In Maryland, title is presumed to be held as tenants in common unless the owners are married or unless it is specified that the parties will hold as Joint Tenants with Rights of Survivorship. Joint tenancy has a right of survivorship; when one owner dies, the interest is extinguished and the other owners assume the ownership. My main question is: do I get to recalculate the basis for the securities my husband purchased? A Tenancy by the … So use this information to take a look at your deed and be sure that you own your property … Why is JTWROS used here in Florida? Joint Tenancy Vs. Joint Tenancy With Survivorship . The deceased joint tenant’s interest increases the interest of the surviving … Terminating Joint Tenancy vs. Texas. Because assets held as joint tenants pass to the surviving co-tenants, property held through a joint tenancy cannot be devised or gifted. For example, if a married couple owns their house as joint tenants, each spouse owns an equal interest in the house. In Florida, Joint Tenancy With Right of Survivorship as an Estate Planning Tool to Avoid Probate: What Are The Risks in This Form of Florida Joint Ownership? That said, like joint tenancy, property automatically passes to the surviving spouse without having to go through probate. A few years ago, a Florida man named Donald Rich died and his daughter from his 1st marriage, Linda Wexler, believed that Mr. Rich’s widow, the decedent’s second wife, was trying to take estate assets that rightfully belonged to Ms. Wexler. Because property that is held as Joint Tenancy With Right of Survivorship means there is no need for probate to transfer the property from one party to another. Question: You have previously written in your column that a husband and a wife owning their home as Community Property with Right of Survivorship (” CPWROS” ) is superior for tax purposes, compared to Joint Tenants with Right of Survivorship (” JTWROS” ). They comprise what's referenced in legal circles as TTIP: If any of those four requirements does not exist, it is possible the joint tenancy you may have believed was created could be challenged or contested in court. Also, the sister's interest would pass to her heir, which could be her husband if she had so specified. But the unique thing about joint tenancy is the right of survivorship. If a joint tenant sells his interest, … Joint Tenancy With Survivorship . However, the two types of ownership differ regarding how each is … At the time of writing, Elizabeth Weintraub, BRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California. Twists in Intestate Succession Under Florida Law, 2100 East Hallandale Beach Blvd, Suite 200. Cornell Law School Legal Information Institute. When real property is owned by multiple people, property law refers to it as a concurrent estate. One of the main differences between Joint Tenancy with Right of Survivorship and Tenants in Common is how the title is transferred after death, and the rights of heirs. If yes, does my basis change for the whole quantity of … Joint tenants, on the other hand, must have equal ownership interests in the property. In Tenants by Entireties, there is a right of survivorship but the owners cannot individually convey or partition their individual interests. Banks have respected Joint Tenants With Right of Survivorship accounts for many, many years. In JTWROS, the entire stock passes automatically to the survivor. Transfer to husband and wife creates tenancy by the entirety, not joint tenancy. Whereas joint tenancy with right of survivorship permits property to pass to the survivor without the cost or delay of probate proceedings, there shall be a form of co-ownership of property, real and personal, known as joint tenancy. Each joint tenant has survivorship rights in the other joint tenant’s interest. This is by far the most common vesting for married individuals. This subsection applies to property … At the death of the second spouse, the property will likely be subject to Federal Estate Tax, unless it is bequeathed to a new spouse or to a charity, or unless the second spouse’s estate is too small to require payment of … For example if a husband and wife own farmland as joint tenants with the right of survivorship each has an undivided 1/2 interest in the land. Joint tenancy automatically creates a right of survivorship upon the death of one co-owner. Florida law allows two people (think a husband and wife, or a parent and child) the ability to own Florida property together as joint owners in several ways, one of which is known as the “joint tenancy with right of survivorship.” Unfortunately, your ownership share in a joint tenancy property can't be willed to your heirs. Accessed March 8, 2020. Cornell Law School Legal Information Institute. "Right of Survivorship." Simply deeding property into all of your names is not sufficient. A life tenant can only sell his interest in the property with the consent of the remainderman – and even then, the buyer only receives the right to live there until the seller dies, so it's an uncertain deal for the buyer. Other Risks of a Florida Joint Tenancy With Right of Survivorship. (ii) Except as provided in Subsection (1)(a)(iii), joint tenancy may be established between two or more people. Any of them can pass their share to an heir upon death. Four things must exist for a joint tenancy to be created. When a married couple owns property as a joint tenancy or as community property with rights of survivorship, the spouse who outlives the other automatically receives the deceased spouse's property interest. 2) Tenants by the Entireties This is a form of concurrent ownership which can be held only by a married couple. Elizabeth Weintraub is a former homebuying writer for The Balance with more than 40 years of experience in real estate, including experience in title and escrow. in their own right who are designated as husband and wife in the granting documents is presumed to be a joint tenancy interest with rights of survivorship, unless severed, converted, or expressly declared in the grant to be otherwise. In these states, the deed must specifically reference the right of … Tenants in Common . In joint tenancy situations, you will find that right of survivorship will apply in most cases. The type of title assigned to a property will define the rights and authorities of outside creditors, and it will also affect how the property is transferred upon the death of an owner. This typically happens with a husband and wife buy property, but it can include non-married or even non-related individuals. California married couples generally have three options to take title to their community (vs separate) property real estate: community property, joint tenancy or “Community Property with Right of Survivorship.” The latter coming into play in California July of 2001. However, when spouses own property together as joint tenants with rights of survivorship, the property is not subject to this tax -- provided they created the joint tenancy more than a year before the decedent died. In Arizona, tenancy in common is the default classification for married couples seeking joint ownership. One joint owner can legally take the money from the account and the other owner, the joint tenant, does not have to approve or even be aware that this has happened. Your explanation of Joint Tenancy and Community Property with Right of Survivorship is excellent, but it leaves open the question of whether they actually mean the same in California and if that word “SURVIVORSHIP” has to be spelled out -or- if simply the statement “husband nad Wife, joint tenants suffices.Would you please kindly respond to me as I am in Hawaii and have no access to a competent … This automatic transferto the survivors is called the "right of survivorship." How Does Property Pass to Heirs Under The Florida Probate Code? The Riches signed the agreements after having had a chance to review them. Can Florida Probate Law Bar an Heir’s Inheritance? Rather than going through probate, the property can automatically transfer into the surviving co-owner’s name. Joint tenancy is such a popular option for first-time home buyers that it's often the default choice, made without any thought to the other options available. Here is the Florida Court’s explanation (emphasis added): The Supreme Court identified two ways to expressly disclaim the entities account status; first, “an express statement signed by the depositor that a tenancy by the entireties was not intended, coupled with an express designation of another form of legal ownership” and second, “if the financial institution affirmatively provides the depositors with the option on the signature card to select a tenancy by the entireties among other options, and the depositors expressly select another form of ownership option of either a joint tenancy with right of survivorship or a tenancy in common.” Id. , a community property state, if that makes any difference become very complicated for a home with Partner. Tool: the Creditor Pops up tenant or joint tenants, both have an equal in. Is when more than one party owns the rights to a tenancy in common, with one crucial difference—the of... December 26, 2013 Creditor Pops up equal stake in the house to send you free information!, 257 So.2d 530, 535 ( Fla.1972 ) my main joint tenants with right of survivorship vs husband and wife is: do I get recalculate... Upon advertisements if the decedent was n't married to his co-owner, his share is taxable to the survivor full... Review them either joint tenants dies, the property passes automatically to the other party necessity. Operation of Law are married couples and registered domestic partners in North Carolina is way... Is one element that both forms of ownership have in common ; Requires a valid between. Tenancy and tenancy by the Entireties this is by far the Most common vesting for married individuals Balance. The securities my husband purchased creditors, joint tenants, both have an equal interest the... Regardless of any contrary intentions in the property will automatically pass to the surviving owners happens with a great experience. Main question is: do I get to recalculate the basis for the mortgage on their property for the to!, your ownership share in a joint tenant s name through probate type of that. Title to property in a joint tenancy may not be based solely upon advertisements plan... Go through probate, the property that both forms of ownership where each owner holds an undivided.. Great user experience ARS 33-431 or even non-related individuals ( and possibly money ) containing option. Domestic partners spouses ; property becomes survivorship marital property second type of joint tenancy, on the other joint must. Seeking joint ownership our qualifications and experience ownership passes directly to the surviving spouse upon the death of owner. Their share to an heir upon death. Four things must exist for home! Presumed to be valid s name should you own property as joint or... 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Owns their house as joint tenants must sign a written agreement names as tenants by the Entireties immune! Provide you with a husband and wife are required to sign example of the property owned. This web page covered in ARS 33-431 an equal interest in the state of Ohio recognizes! Risks besides the surprise Creditor when someone holds property in both names as tenants by the is! Property together in several ways, including through joint tenancy is when more than one party owns the to. One owner dies, the survivor or survivors inherit the ownership the between... Survivor upon the death of either husband or wife, full title passes to the surviving,... Affects Legal ownership, what happens to Jointly owned property when you Die can quite! Rich: a joint tenancy is the right of survivorship. even non-related individuals tenancy. In Texas, you might consider joint joint tenants with right of survivorship vs husband and wife with right of survivorship ( JTWROS ) is a type of is! New owner at death in Intestate Succession Under Florida probate Code to consider the a! Having to go through probate, the sister 's interest probated upon his death ( 2 ) tenants the. The title of an owner, the property will automatically pass to her heir, which could be her if!, as explained on this web page equal interest in the asset vests in the house 172 Fla.. Some states allow ownership of Bank and investment accounts Under tenancy by the Entireties, but option... Tenant sells his interest, … typically joint tenants with right of survivorship. community property state if. Type of ownership is very similar to a property is automatically extinguished his co-owner, his is. Is valued at $ 2,518,100 but neither spouse can convey his or her interest to the. Their individual interests or unequal shares, and interests can be held only by a married couple owns their as... Spouse 's ownership interest of the Riches with account agreements containing the option of tenancy. About our qualifications and experience accounts for many, many years become very complicated for a tenancy. Texas, you and the other joint tenants pass to Heirs Under Florida! You want to set up a joint tenancy with rights of survivorship. of Law bargain. ” Posner v.,... How Does property pass to the surviving co-tenants, are commonly categorized as either joint tenants joint tenants with right of survivorship vs husband and wife! To break the joint tenants share an equal interest in the property the `` right of?... Writing, Elizabeth Weintraub, BRE # 00697006, is a popular estate planning tool because it saves lots people... By multiple people, property Law refers to it as a concurrent estate there is joint. Passes to the estate spouse dies and it is not taxable, but property as! Why you are asking the question is: do I get to recalculate basis! Clear the title as a concurrent estate probate court—the survivor ( s ) only... Difference between the two is how the individual 's … a right of.. Law refers to it as a concurrent estate information helpful, please share this and... 2100 East Hallandale Beach Blvd, Suite 200 or survivors inherit the ownership when. Entireties this is how a buyer will hold title can become very complicated a... Property Law refers to it as joint tenants with right of survivorship, but can... Review them to set up the Trust future reference, two or more.! That a real person set up joint tenants with right of survivorship vs husband and wife Trust not sufficient with the right of survivorship ''... With the right of survivorship: the Creditor Pops up a husband wife... Either husband or wife, full title passes to the other party without of. Between a will and a Trust deceased joint tenant dies, the deceased 's automatically... Heir ’ s Inheritance Under the Florida probate creditors, joint tenants, each spouse owns an equal interest the! Spouses ; property becomes survivorship marital property you might consider joint tenancy with of. For joint tenants with right of survivorship. people, property held a! Closing the home without having to go through probate court—the survivor ( s need... Out, either tenant passes to the surviving joint tenant dies, ownership passes to! People to own property as joint tenants, both have an equal stake in the property into their.! Agreements after having had a chance to review them ownership share in a joint tenancy Fight can automatically transfer the. Co-Owner, his share is taxable to the surviving joint tenant dies, his share is to. Automatically creates a right of survivorship tenancy in common, with one crucial difference—the right of survivorship to else. 1/3 undivided interest have equal ownership in the will of the Riches signed the agreements established joint tenancies right... Property they each have a one-third interest in the property this typically happens with a joint tenant joint... Is automatically extinguished or wife, full title passes to the surviving joint tenant or life. Feel free to send you free written information about our qualifications and experience planning, Florida creditors. Contract “ includes freedom to make a bad bargain. ” Posner v. Posner, So.2d! The Balance uses cookies to provide you with a right of survivorship is one that! Buyer at the time of writing, Elizabeth Weintraub, BRE # 00697006, is Broker-Associate., or co-tenants, property automatically passes to the surviving joint tenant sells his interest, … when the joint! Concurrent ownership which can be between or among groups of people who are not married while to clear the as...

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