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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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| Q |
What four states in the Southwest are noted for having boundaries that touch.
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| A |
New Mexico, Arizona, Utah and Colorado, referred to as the "Four Corners", have adjoining boundaries. |
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APPLEBAUM & Associates
Keller Williams Realty
1521 Concord Pike, Suite 102
Willmington, DE 19803
Office: 302-299-1136
Fax: 302-299-1188
Cell: 302-750-7677
brentapplebaum@NUMBER1EXPERT.com
brentsells@comcast.net
APPLEBAUM & Associates has been the #1 Top agent at Keller Williams for the last two years! And we have only been with Keller Williams Realty of Wilmington for the last two years. See how hard we work? Let us work for you too! At APPLEBAUM & Associates we have a team of professional, personable, experienced agents that are always available to assist you in all of your Real Estate Needs. We are your Real Estate Advisors and we are ready to work for you.    
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