|
All agents are NOT alike! Find out why I am a top real estate expert. Call me: 732-282-3304.
|
Get Free Presentation On my Home Marketing.
Before signing a contract with any REALTORŪ, make sure you know EXACTLY how your home will be marketed.
Find Out More >
View All Offers >
|
 Compare three mortgages at one time.
Download TripleCalc now. It's free. |
Donna Fahy-Waters is one of The
Top Selling Real Estate Experts™
Find Out More > |
|
|
 |
Our Team Is On YOUR Side! As a top REALTORŪ, we do not work alone! We have a whole team of people working in your best interests. Meet my team. Please Sign Up For The Latest Listings and the Latest Real Estate News
|
When two or more individuals own property together, each one owning an equal interest and having equal rights in the property including the rights of survivorship, it is referred to as joint tenancy. Any of the joint tenants may transfer his or her interest in the property to another party, but this dissolves the joint tenancy and creates a tenants-in-common interest with respect to the other parties whose names are on the title.
The most important feature of joint tenancy is the right of survivorship. A joint tenant cannot will his or her interest in the property to others. The surviving joint tenant (or tenants) simply becomes the owner or owners of the property without going through the probate process, which can involve expensive legal fees and may take months to resolve.
It is important to get professional advice when you plan to buy and hold title to real estate with another person.
|
|
| Q |
What 70-room East Coast mansion was built as a summer home and is known as a "Gilded Age cottage"?
|
| A |
Cornelius Vanderbilt's "Breakers" Mansion in Newport, Rhode Island, named for the waves crashing along the cliff that separates the property from the ocean. |
 See More Real Estate Trivia > |
|
|
|
|
- NUMBER1EXPERT™ 
