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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 is the world's longest wall?
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The Great Wall of China, at a length of 2,150 miles, nearly three times the length of Britain. |
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Edwards Realty Group
Three Palms Residential Real Estate
One Broward Boulevard, suite 700
Fort Lauderdale, FL 33301
Cell: 954 558 4844
Fax: 954 316 2324
Email: Roger@EdwardsRealtyGroup.net
Email: RogerEdwardsPA@aol.com
Top Realtor in Plantation,FL, Davie,FL and Weston,FL we are relocation specialists native to South Florida, and 2nd & 3rd generation South Florida Realtors we understand and appreciate all this lifestyle has to offer. Our main objective is meeting your needs and providing value to our clients through knowledge of Greater Fort Lauderdale Market, excellence in service, complete trust, skill, and working for your best interest.      
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