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I'm 61, female, living with a male for 8 yrs. We are not "registered Domestic Partners" and we have 3 properties between us. One, we are both on the deed as "unmarried"and recorded as "joint tennants with full rights of surviorship". We were told this is the way it should be written.
Is this the right way? and how do we go about granting 50% ownership in the other properties with full survior rights. They are currently both being rented(the market being like it is) We want to make sure if one or the other of us would need to go into a nursing home, or worse,and we haven't been able to sell the properties, the other would not lose thier interest and would have full ownership. The total value of the other 2 properties is about $275,000. If we just quit claim 50% of our interest to each other, how are the taxes done, since we aren't related. Would we pay taxes on the assessed value or the standard recording fee. Can we assign everything to a trust, if we aren't married?

adonis · Posted: Sun Sep 04, 2011 7:42 pm Post subject:

Hi Guest,

There is nothing wrong in owning the property as joint tenants with full rights of survivorship. You can contact a real estate attorney and he will guide you as to how you can have 50% ownership in the other properties. As far as the taxes are concerned, both of you can share it when you receive the tax bills. If you wish, you can even put all the properties in a trust.

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