Joint Tenancy

Joint Tenancy

Joint tenancy is a way for two or more people to own property in equal shares so when one joint tenant dies the property passes to the surviving joint owner without having to go through probate court. A decedent’s ownership in a joint tenancy automatically transfers by operation of law to the surviving owner and is not part of an estate for transferring, but is included in the estate for assessing estate taxes.  Paperwork needed to transfer real estate owned in joint tenancy is an affidavit death of joint tenant and a death certificate, filed and recorded with the county recorder.

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