Sentences with phrase «joint tenancy because»

Joint ownership is commonly used in family situations, for example, most spouses own their principal residence in joint tenancy because it reflects the fact that they consider themselves to be a team - and also so it makes the administration of the estate of the first to die efficient and inexpensive.

On the other hand, in respect to the real estate that was also put into joint names as joint tenancy because the husband indicated on the transfer of ownership to he and his wife that it was being done for «natural love and affection» (to avoid land transfer tax among other things) the wife retained her 50 % ownership interest of the real estate.

There was no joint tenancy because there was neither unity of interest nor unity of possession.

Not exact matches

That's because the entire ownership transfers to the surviving owner, without having to go through probate, under joint tenancy.

Having transferred the house into joint tenancy with Helen, the house would no longer form part of Kay's estate (because it passed by way of survivorship to Helen).

Right of Survivorship Because of the right of survivorship, a joint tenancy can meet the estate planning goals of simplifying the administration of an estate, minimizing probate fees and ensuring that property passes to the intended person.

In general, a joint tenancy is unaffected by a will, because property is conveyed pursuant to the joint tenancy outside the terms of the will.

The wife could not sever joint tenancy by a will because on her death the property went to the husband by right of survivorship in joint tenancy.