Posted on: 15th Jan, 2010 09:07 pm
My mother is helping my spouse and I purchase a house cash. Originally the house was going to be in my name. However the Realtor said they were doing my name as a married woman and my mother's name with Joint Tenants with Rights of Survivorship. Does this mean if something happens to me, my husband is entitled to the property as well. Or would it be advisable just to add his name at closing on the deed.
Thanks
Thanks
Hi Lastpath,
If you are listed as one of the joint tenants with the right of survivorship, it means you will be entitled to the property ownership when the other joint tenants are deceased. Thus, if you and your mother are on the title as joint tenants, you will get the full ownership of the property when your mother is deceased. In such a situation, the property does not have to go through probate.
Are you in a community property state? If you are, then your husband is entitled to a share of the property ownership. In case, it is not a community property, it is better to add his name to the title to make sure he has a right to the property.
If you are listed as one of the joint tenants with the right of survivorship, it means you will be entitled to the property ownership when the other joint tenants are deceased. Thus, if you and your mother are on the title as joint tenants, you will get the full ownership of the property when your mother is deceased. In such a situation, the property does not have to go through probate.
Are you in a community property state? If you are, then your husband is entitled to a share of the property ownership. In case, it is not a community property, it is better to add his name to the title to make sure he has a right to the property.
I believe that if they do it as a married woman on your belhalf, that your husband would be entitled to your portion.
Then it goes to joint tennants after that.
And if your mother passes, her portion would go to you as the joint tennant.
Then it goes to joint tennants after that.
And if your mother passes, her portion would go to you as the joint tennant.
The house is being purchased in Florida which I found out is a equitable distribution state. Thank you very much for the quick replies.
A render tenancy must be created by a deed or will, and must be created in both or all render tenants at the same time. Usually, a render tenancy is created by specific language: "To A and B as render tenants with right of survivorship." At common law, A (owner of a fee simple) cannot create a render tenancy between himself and another by conveying "to A and B as render tenants." But many states, by statute or case law, now permit this result. Each render tenant has a right of survivorship. That is, if there are two render joint tenants, and one dies, the other becomes mend someone of the interest that the two of them had previously held jointly.
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the mortgage holder on the property is deceased and the two remaing people on the survivorship are not on the mortgage what is the process we should take