Posted on: 19th Apr, 2012 06:23 pm
In reading public records I came across a married couple deeding themselves property they already own. The only difference in the names appears to be they are deeding it to themselves as Joint Tenants. What does this mean?
Example: John and Jody Person to John and Jody Person Jt. ten. and then the legal description
Example: John and Jody Person to John and Jody Person Jt. ten. and then the legal description
Hi SME!
Welcome to forums!
Joint tenancy can be defined as a type of ownership of property by two or more persons wherein each of the owners have an undivided interest in the whole property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Joint tenancy can be defined as a type of ownership of property by two or more persons wherein each of the owners have an undivided interest in the whole property.
Feel free to ask if you've further queries.
Sussane
Joint tenants means that if one of the parties dies, the other party holding title will receive the full title to the property, without passing to their heirs. In community property states such as CA, married persons typically take title as Community property with right of suvivorhip. Title can be taken in many ways, what they have done is not un common or wrong...