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A joint tenancy or joint tenancy with right of survivorship (JTWROS) is a type of concurrent estate in which co-owners have a right of survivorship, meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. The deceased owner's interest in the ...
The four unities is a concept in the common law of real property that describes conditions that must exist in order to create certain kinds of property interests. . Specifically, these four unities must be met for two or more people to own property as joint tenants with legal right of survivorship, or for a married couple to own property as tenants by
Tenants in common (TIC) deeds may or may not be taken in equal shares, but a joint tenants with rights of survivorship (JTWROS) deed must always be taken in equal shares unless specifically and clearly indicated otherwise in the deed language. Therefore, a partition action for those two types of deeds will vary.
Continue reading → The post Community Property vs. Joint Tenancy appeared first on SmartAsset Blog. Of these, two common shared estate ownership options include joint tenancy and community property.
The Path Grant deed [1] is an indenture conveying a tract of property in Northeast Tennessee and Southwest Virginia known as the Path Grant from/by the Cherokee people to nine individuals collectively known as Richard Henderson and company. The indenture was drawn on an unstated day in March 1775 and recorded on November 15, 1794.
Joint ownership may also be by tenants in common (TIC). In some states, joint ownership is presumed to be as tenants in common unless the parties are married and the deed so states or the deed sets for joint tenants with right of survivor-ship. Upon death, the decedent's share passes to his or her estate.