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Schools in Rancho Penasquitos, Mira Mesa and Scripps Ranch

Titles >Joint Tenancy

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 is the average price for a home in the United States?
A	According to recent data published by the NAR, the national median price for existing single-family homes is now $230,000.
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Tami McCraw, REALTOR®, real estate agent and broker for Rancho Penasquitos, Mira Mesa and Scripps Ranch, California home listings, property and land for sale - NUMBER1EXPERT(tm)

Tami McCraw
Coldwell Banker Residential Brokerage
12036 Scripps Highlands Drive
San Diego, CA 92131
DRE License# 01435258
Phone: 619-884-9640
Fax: 858-695-3635
Email: TamiMcCraw@gmail.com

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