Posted on: 29th Aug, 2007 05:58 pm
hi,
please explain me following,
on recorded warranty of deed it said joe smith married to jill smith 123 palm street, belmont il 60560 not in tenancy in common but in joint tenancy.
is this a single ownership for only husband or joint tenancy for both husband and wife? wife did not sign any waiver or quit claim deed. this deed was prepared by reputed builder, not attorney. if it is not joint what wife can do to get her ownership? this property purchased by husband only without wife's consent
thank you very much for your answer. your answer will be greatley appreciated.
jil
please explain me following,
on recorded warranty of deed it said joe smith married to jill smith 123 palm street, belmont il 60560 not in tenancy in common but in joint tenancy.
is this a single ownership for only husband or joint tenancy for both husband and wife? wife did not sign any waiver or quit claim deed. this deed was prepared by reputed builder, not attorney. if it is not joint what wife can do to get her ownership? this property purchased by husband only without wife's consent
thank you very much for your answer. your answer will be greatley appreciated.
jil
>>> On recorded warranty of deed it said Joe smith married to Jill smith 123 palm Street, Belmont Il 60560 not in Tenancy in common but in Joint Tenancy.
It is joint tenancy. As it says "not in Tenancy in common but in Joint Tenancy"
>>> This deed was prepared by reputed builder, not attorney.
If the deed was notarized & recorded then it is legal. You should not be worried about its validity.
Miller
It is joint tenancy. As it says "not in Tenancy in common but in Joint Tenancy"
>>> This deed was prepared by reputed builder, not attorney.
If the deed was notarized & recorded then it is legal. You should not be worried about its validity.
Miller
I cannot understand one thing, you are saying that your husband purchased it on his own and also that the deed mentions it as a joint tenancy?
Hi Jill,
When it is clearly mentioned in the warranty deed that it is a joint tenancy, then you should not worry about your share of ownership. With this joint tenancy, both you and your husband are holding equal rights to the property. Even after your husband's death, you will get back the complete ownership of the property as the rights of survivorship. To know more on joint tenancy, you may refer to http://www.mortgagefit.com/joint-tenancy.html
When it is clearly mentioned in the warranty deed that it is a joint tenancy, then you should not worry about your share of ownership. With this joint tenancy, both you and your husband are holding equal rights to the property. Even after your husband's death, you will get back the complete ownership of the property as the rights of survivorship. To know more on joint tenancy, you may refer to http://www.mortgagefit.com/joint-tenancy.html
Hi Jill,
Welcome to our community.
The type of ownership that is held in your property is not tenancy in common but joint tenancy (with right of survivorship) as stated on the warranty deed or the title deed.
Now, tenancy in common is a type of joint tenancy wherein there are joint owners of the property. Upon death of one co-owner, the other gets the former's share of interest as per the rights of survivorship. This particular right is not applicable to those in tenancy in common. In this case, upon the death of a co-owner, the other person on the deed will not get the interest in property. Rather the deceased person's heirs will get his share of property-interest.
In a joint tenancy form of ownership, there is no need of Will but in tenancy in common, each tenant's share of property can be distributed through a Will.
As far as your property is concerned, it may have been purchased by your husband only but I think the title company has included both your names on the title and hence the deed speaks of co-owners with join tenancy.
Regards,
Jessica.
Welcome to our community.
The type of ownership that is held in your property is not tenancy in common but joint tenancy (with right of survivorship) as stated on the warranty deed or the title deed.
Now, tenancy in common is a type of joint tenancy wherein there are joint owners of the property. Upon death of one co-owner, the other gets the former's share of interest as per the rights of survivorship. This particular right is not applicable to those in tenancy in common. In this case, upon the death of a co-owner, the other person on the deed will not get the interest in property. Rather the deceased person's heirs will get his share of property-interest.
In a joint tenancy form of ownership, there is no need of Will but in tenancy in common, each tenant's share of property can be distributed through a Will.
As far as your property is concerned, it may have been purchased by your husband only but I think the title company has included both your names on the title and hence the deed speaks of co-owners with join tenancy.
Regards,
Jessica.
