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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.
Do These Real Estate Tips Really Apply to YOU? We've learned these tips through experience. But we know that YOUR situation might be different. That's why we're here. It's our job to personally advise homebuyers and sellers. Ask us if any tip that we've included here really applies to your situation. Do any of these tips raise questions for you? Didn't find what you're looking for? Let us know! We are happy to answer ANY questions. It's our job! There's no obligation, and we promise to get back to you quickly...
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What kind of home construction is considered to be the safest in seismic areas?
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| A |
Straw-bale homes in seismic zones have proven resilient enough to withstand the shock of earthquakes. |
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Tracey A. Donley
RE/MAX EXCELLENCE
4435 S. Buffalo Drive
Las Vegas, NV 89147
800-401-2224
Fax: 702-255-1010
tracey@traceydonley.com
Tracey Donley and her carefully, hand-picked real estate sales team aim, quite simply, to provide you with
KNOCKOUT SERVICE & RESULTS!
They want to put the "WOW!" word back into your vocabulary, whether you are selling or buying real estate in Las Vegas!!!
If your objective is to save your valuable time and money while selling your property or buying exactly what you want in real estate, then Tracey welcomes you to spend as much time as you wish on her web site getting acquainted with her and the manner in which she conducts business!
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