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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 |
Which U.S. hotel has more fountains than any other hotel in the world?
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| A |
The Bellagio Hotel in Las Vegas, Nevada has more than 1,000 fountains embellishing an 11+ acre artificial lake.
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Johna Walker
Walker Real Estate Team
920 Missouri Ave
St. Robert, MO 65584
573-433-1091
Fax: 866-634-9994
573-336-2206
JohnaWalker@NUMBER1EXPERT.com
teamwalker@webound.com
An active duty military spouse with over twenty years of relocation experience to assist families relocating to the Ft. Leonard Wood area. Always training and always educating to stay at the top of the real estate industry to provide her clients with state of the art service to buy and sell their homes. Whether you're moving from Alaska, South Korea, or Kansas, she has truly "Walked in your shoes"    
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