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Death of a joint tenant

Posted on: 17th Nov, 2008 01:24 pm
My mother is listed as a joint tenant on a property I own in Ca. When she passes I understand it becomes my sole property but will her portion have to go thru probate &/or will I have to pay any inheritance tax?
Hi slgreer!

Welcome to forums!

When the joint tenant passes and if you have the "right to ownership", then you will directly get the ownership of the property. The estate will not pass through a probate.

On the death of the joint tenant, there are different types of taxes that may be imposed such as federal income tax, federal estate tax, federal gift tax, and inheritance tax depending upon the state. As the tax laws frequently change, it will be better if you could consult an attorney regarding this.

Feel free to ask if you have further queries.

Posted on: 17th Nov, 2008 08:06 pm
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