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Titles >Joint Tenancy

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.

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Q	What tropical haven is back in vogue, attracting celebrities like Cher, Madonna, and Sylvester Stallone, who have homes here?
A	Made up of 17 islands in Biscayne Bay, Miami Beach is the "American Riviera" and famous for its tropical beauty.
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Realty Quest
117 West Main
Rexburg, ID 83440
Phone : 208.356.8787
Toll Free: 888.212.5700
Fax : 208.356.8798
E-mail: Judy@JudyHobbs.com
As Owner/Broker and Listing Specialist, Judy has made real estate her passion here in the Upper Valley since 1977. She has had the privilege of working for thousands of buyers and sellers in those years and is still excited every day about serving you. Judy continues to train, re-educate and explore all new tools to be certain you are being served with new technology, while knowing that our job is not houses or dirt - it is people. Client Centered Care is our focus.

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