Joint Tenants or Tenants in Common | What if the Deed Doesn't Specify?
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- Опубліковано 7 чер 2024
- Both joint tenancy and tenants in common are ways to hold property between two or more people. However, only joint tenancy carries an automatic right of survivorship. On the death of one co-owner, their interest terminates and the property is then held outright by the surviving co-owner. But what happens when a deed is silent on how the property is to be held?
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Viewing this video does not create the expectation of an Attorney-client relationship. The information from this video is for general information purposes only. Nothing should be taken as legal advice for any individual case or situation.
Very informative video...thank you!
Glad it was helpful! Thank you!
Very clearly defined.Thanks
Thank you!
This is a really helpful video - thank you! Do you have a sense for whether it's common for other states to default to TIC when the deed is silent (like CA does)?
Great question! Yes, it's very common for states to default to tenants in common where a deed is silent. However, this is something that will vary by state, so if you own property in a state, then you should check that state's civil code (or equivalent) and verify the default vesting. Ideally, you would ensure that the desired vesting is always clearly stated on the deed and not rely on defaults, however.
A common default interest you may see in some states for married couples is tenancy by the entirety (TBTE) - which is similar to joint tenancy (JT) in that there is a right of survivorship, but there are some specific differences that mainly center around whether a party can transfer just their interest without the consent of the other (not possible in TBTE but is in JT) and so on.
Again, just make sure the deed itself is specific and don't rely on default rules to begin with.
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Haha, thanks! They are Versace frames.
Do the Tenants in Common have to be on the Mortgage Note? Can it just be only 1 person on the mortgage??
Hi Atty my parents held Tenant in common deed, my mother passed last year and my father appealed in the court that my mothe and him doesnt intend to separate their property but the thruth is they are very aware that this type of tittle "TENANTS IN COMMON "will separate their assets My mother wanted to get out form her toxic relationship w/ my father I attended the summons last Aug 2, 2023 and objected that theres a reason why they both agreed in tenant in common due to my father doesnt want to give my mother share cause she wanted out in her toxic marriage , unfortunately my father died Last Sept 26, 2023 and we are supposed to attend a second hearing NOv. 9, 2023 and my sister laso died last Sept 23 ,,3 days before my father died .. I was taking care of my sister for months and was not able o file objection in the court and Im not sure if I am able to submit it still , My question is can the Judge grant my fathers petition to remove it from Tenants in common to Joint tenants instead ?because I didnt file my objection on time ??? and if my father has assigned executor can she manipulate the handling of my mother state cause my mother did not have Last will?
Could please tell us the California civil code that states tenants in common is the default? Thank you.
Sure thing! Its California Civil Code Section 686, "Every interest created in favor of several persons in their own right is an interest in common, unless acquired by them in partnership, for partnership purposes, or unless declared in its creation to be a joint interest, as provided in Section 683, or unless acquired as community property."
Thus, if a deed only states that a property is being transferred to Jack and Jill, then Jack and Jill will hold the property as tenants in common. However, if the deed said to Jack and Jill, as joint tenants, then they will hold the property in joint tenancy which means it also carries with it an automatic right of survivorship.
As there's no one there, the cut aways are far too long, just saying but the information is useful thanks.
😮uj
Hello Hayden!
Thank you for the feedback. We've been able to tighten up our videos as time has gone on, but this older video is still fairly popular.
@@bethellaw I’m pleased for you and thanks for your reply.