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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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What was the first land designated by the US government as a National Park?
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Yellowstone was established "as a public park or pleasuring ground for the benefit and enjoyment of people" in March 1872. |
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Helene Easterday
Keller Williams Real Estate
40 S. Cedar Crest Boulevard
Allentown, PA. 18104
Office: 610-435-1800
Cell: 610-704-9292
Fax: 610-285-2529
Email: Helene@CellsHomes.com
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Experience means Knowledge; some have it while others try to achieve it. 27 years in the Real Estate Business in the Lehigh Valley satisfying customers, finding homes for Clients, marketing and selling homes, negotiating contracts, being a problem solver, and getting to the table so that our Clients can achieve the American Dream of Selling their home and moving up or Owning their First Home. Knowing the Lehigh Valley, the market and what it takes to Sell and Buy homes. Put my Experience and Knowledge to work for you.    
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