The default position is joint tenants
, so you must tell your lawyer if this is not how you want to own the property.
The death put let the manager, as the joint account's survivor, redeem the investments from issuers for the full principal amount before maturity upon the death of a joint tenant
However, there may be reasons not to become joint tenants
In order to create a joint tenancy, the joint tenants
must possess the four unities: interest, title, time, and possession.
With regard to property titled as tenants by the entirety or as joint tenants
with right of survivorship, when at least one of the co-owners qualifies for the homestead tax exemption, he or she is permitted the entire exemption amount.
When property is jointly owned, tenants in common can dispose of their interests separately, and not joint tenants
, where the survivor takes all.
In general, property is owned outright, as tenants in common, as joint tenants
with rights of survivorship, or as community property.
William Biggers and Linda Crook, brother and sister, inherited a piece of real property upon the death of their mother, taking the property as joint tenants
with right of survivorship.
In real estate owned by them as Joint Tenants
with another, whether the Joint Owner be their mother, father, sister, brother or spouse?
Some community property states, such as California, allow residents to bypass the community property rules by titling property in a common-law form, such as joint tenants
or tenants by the entirety.
It should have a mouth-watering appeal to other clubs who might be considering taking Shelbourne in as joint tenants
now they are planning the sale of Tolka Park.
This may cause creditors and governmental agencies to pursue the beneficiaries or surviving joint tenants
in an effort to collect on the amounts owed.