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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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What are three of the best indicators of real estate market trends?
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Existing home sales, new home building and mortgage interest rates.
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Paul Cuttic
RE/MAX Executive Realty
321 W. Lancaster Avenue
Wayne, PA 19087
610-977-5005
610-977-5000
610-688-8189
Fax: 610-977-5004
Email: PaulCuttic@BestImageAgent.com
Personalized service, knowledge of the marketplace, dedication and years of experience has set Paul apart from other agents. A Real Estate professional since 1979, Paul is among the industries most elite group having been inducted into the RE/MAX International Hall of Fame in 1999. This distinguished group is regarded as the most successful in the entire Real Estate industry. Building relationships through professionalism, integrity and sensitivity has been the key to his success. As an acative participant in the local King of Prussia, Wayne and Devon communities, Paul's expertise is unsurpassed and will serve you well whether you are a Buyer or Seller. Call or email Paul for a professional Real Estate consultation today.   
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