Put extra cash into mutual fund, not mortgage (10) Nov 3, 2008
My grandfather (my mother's father), upon being admitted to a convalescent home, put my mother (his daughter) on the deed in joint tenancy with him. He owned the home free and clear at the time. (Lodi News Sentinel, CA)
Happily ever after Oct 18, 2008
You don t have to marry to put property into joint tenancy. If there is some formalization of the relationship, at least in a business sense, there will be no problem. (Rapid City Journal, SD)
Use tenancy to take title Aug 25, 2008
Question: I must decide how to take title to our California house: joint tenancy or community property with rights of survivorship ... The key difference between joint tenancy and tenancy by the entirety is if you own property as tenants by the entirety, both spouses must agree before the property becomes subject to one spouse's creditors. (AZCentral -- Business)
More Unmarried Couples Buying Homes Aug 9, 2008
Experts recommend that each buyer have a will stating that their share of the property goes to the surviving owner upon his or her death, but they also should consider including joint tenancy with the right of survivorship in the deed. They also must understand that obtaining a mortgage requires full financial disclosure, meaning that their past credit histories will be out in the open. (Realtor Magazine Online)
My mom wants to snub my sister in her will Jun 24, 2008
According to Mr. Wagner, one of the ways around this is joint tenancy, which means having your mom make you a partner in her assets, like her house or bank account ... Also, your sister could take you to court, saying that your mother was coerced into the joint tenancy by you or that she wasn't in the proper state to make that decision. (Globe and Mail)
County confronted with property tax cap Jun 11, 2008
Sugar Island resident John Willis produced a print out on joint tenancy transfers citing a specific court case Moshier v. Whitewater Township which indicates a December 2007 Michigan Court of Appeals ruling may re-establish the property tax cap in certain situations. Since Proposal A took effect in 1994, property owners have enjoyed a cap on their tax bills. (Sault Ste Marie Evening News, MI)
The law overrides a father's intentions Jun 10, 2008
Then there is joint tenancy or joint tenancy with the right of survivorship. In other words, the manner in which the individuals own property determines their rights to sell or will their interests or to terminate their joint ownership. (Pittsburgh Post-Gazette, PA)
The drawbacks of jointly-owned assets May 15, 2008
The term joint ownership is used to loosely describe one of two common legal relationships: Tenants in common, or joint tenancy with right of survivorship (JTWROS). Tenants in common owners each hold separate ownership interests that can generally be sold or transferred without the consent of the other owners. (Globe and Mail -- Business)
Joint Ownership: Proceed with Equal Parts of Creativity and Caution Apr 8, 2008
Invest time understanding the pros and cons, similarities and differences, of the two types of joint ownership: tenancy in common and joint tenancy ... Selling an interest in your current home dictates that ownership must be taken as tenants in common since joint tenancy may only be created under very specific circumstances ... Under joint tenancy, co-owners do not have the right held under tenancy in common to bequeath property in a will. (RealtyTimes)
Ins, Outs Of Equity Sharing Mar 5, 2008
Title to the home can be held in a variety of ways -- joint tenancy with right of survivorship, tenancy in common, partnership or as a living trust. Equity sharing deals should be legal and binding contracts designed to provide an equitable means to an end. (RealtyTimes)
Two basic ways to divide up property Feb 20, 2008
On the other hand, in a joint tenancy, multiple parties have essentially one ownership interest in real property ... Georgia law provides that specific terms must be included if a grantor of property intends to convey the property to the grantees in joint tenancy, such as "joint tenants," "joint tenants and not as tenants in common," "joint tenants with survivorship," or there must be some other mention that they acquire the property "jointly with survivorship.". (Atlanta Journal-Constitution)
Friends get on the ladder Feb 11, 2008
When more than one person wants to buy a property, they can choose to own it either in a joint proprietorship or joint tenancy, or in a tenancy in common. Married couples are typically joint proprietors. (Sydney Morning Herald -- Entertainment)
Leaving Salford Jan 4, 2008
I had what amounted to joint tenancy with a gang of local boys who had taken up part-time residence on my porch and front steps, probably dating from the 18-month period the house had been empty before I bought it. The next-door neighbours advised me not to call the police on them; other people on the street told me that when they had done so, their tyres had been slashed. (Guardian Unlimited)
Marsha Kay Seff: How assets are affected by Medi-Cal Oct 14, 2007
If it's in joint tenancy, the state can collect up to an amount equal to the Medi-Cal recipient's share. Even if the property is in a living trust, it is subject to an estate claim, according to California Advocates for Nursing Home Reform, known as CANHR.. (San Diego Union-Tribune)
Lender pays 'yield spread premium' Oct 13, 2007
Q: What is joint tenancy. A: An equal, undivided ownership interest in a piece of property by two or more people, each of whom has the right automatically to assume title to the property upon the death of the other(s). (Atlanta Journal-Constitution)
Things to know when making your will Oct 6, 2007
- Ascertain ownership sole, joint tenancy, tenants in common, payable on death, etc. - Assets with beneficiary designations, owned in joint tenancy or payable on death (P.O.D.) are not probate assets and not generally covered by the will. (Kewanee Star Courier, IL)
How To Move In With A Partner: Part Two Oct 6, 2007
Bear in mind, however, that if you take out a joint tenancy, you will each be individually responsible for paying the entire rent. So if you pay your usual share but your partner doesn't pay the rest, the landlord can pursue both of you for the remaining sum owed. (Sky News)
Tax bites can vary in sale of home; 3 issues to know Sep 30, 2007
In particular, homes titled as joint tenancy likely won't qualify for a double step-up in basis, even in community-property states, McCabe warns. (That's a good reason to retitle the property. (AZCentral -- Business)
Marriage and money -- unfamiliar territory Jun 25, 2007
By comparison, if property is held in joint tenancy -- another option for married as well as unmarried couples who own property together -- when the first owner dies, only his or her half is stepped up to the date-of-death value. Although domestic partners won't get the full step up in basis when one dies, there could be other, more complex tax reasons for them to own assets as community property, Hertz says. (San Francisco Chronicle)
What's new in IHT planning for spouses and the family home? By Nichola Ross Martin Apr 20, 2007
For example, if you have a couple who happen to own a house worth 600,000, then it makes sense for the first to die to leave their half of the home (as a tenant in common, as this is not possible with a joint tenancy) to named persons such as the children and pass their remaining assets to the surviving spouse tax free ... A couple of years later they severed the joint tenancy to become tenants in common. (Accounting Web, UK)
The Council's position to sell the land at below market price to the condo owners, rather than re-negotiating a lease is a very bad deal for the City. Transparency, please! More... Mar 7, 2007
Defeating the 3% wrote on March 06, 2007 7:52 AM:"If the owners transfer the property to a trust the beat the 3%. If they transfer to a corporation they defeat the trust. What about operation of joint tenancy, does that defeat the 3%. How well thought out is this scheme. Sounds like Corky at Liberty STation in San Diego, Corky made millions, City gets nothing.". Kim wrote on March 06, 2007 9:28 AM:"Some people on the Oceanside city council flunked math 101, investments 101 and government 101!... (North County Times)
Ex-husband wills away half of home Feb 10, 2007
But before the divorce papers were finalized, without my mother's knowledge he changed his title to the house from joint tenancy with right of survivorship to tenants in common ... Can a joint tenancy title be changed without permission of the other joint tenant, and is my mother entitled to all or half of the property ... For simplicity, I presume the house is not in a state allowing a married couple to hold title as tenants by the entireties (a special form of joint tenancy that cannot be... (Charlotte.com, NC -- Living)
Property transfers Feb 3, 2007
Charles Allen, Hester Allen, Joseph Allen Jr. and Luana Tanner to Carl and Rita Pacunas, joint tenancy deed, Lots 13-14 and Lots 1-2 in Block 17 in North Addition, Princeton, 80,000 ... Rita Hallman to Haley and Matthew Lind, joint tenancy deed, part of Lot 19 in Walnut, 50,000 ... James Arnold and Roger Sessions to Christy and Michael Condon, Lynda and William Seevers, and Amy and Wade Wetlaufer, joint tenancy deed, Lots 1-2 in Wolfer Industrial Park Phase 4, Spring Valley, 196,000. (Princeton Bureau County Republican, IL)
Nontraditional families: Seek counsel on assets Jan 22, 2007
Federal estate tax law provides an unlimited estate tax exclusion for assets that are bequeathed or transferred at death to a surviving spouse by joint tenancy. Assets transferred to non-spouse beneficiaries may be subject to estate taxation if the amount exceeds the current exemption ($2 million in 2007). (Seacoast New Hampshire)
