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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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Due to low business and living expenses, what areas are considered to be the fastest growing in the country?
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According to recent studies, the Southern and Western regions of the U.S. are among the nation's strongest economies. |
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Craig Alexander
Weichert Realtors
824 John Marshall Highway
Front Royal, Winchester, Strasburg and Luray, VA. 22630
Cellular: 540-671-6082
Home Office: 540-933-6964
Fax: 540-301-0791
Voice Mail: 540-635-1300 ext. 131
Email: craigalexander@NUMBER1EXPERT.com
Email: craig@mris.com
Born and raised in the Front Royal area, I began practicing real estate in 1990. I offer a wealth of information about the area, including Front Royal, Warren County, Winchester, Frederick County, Flint Hill, Rappahannock County, Strasburg, Shenandoah County and Luray, Page County. A top producer in the region with over 450 closed transactions since 1997, I provide the best service possible to my customers and clients and have been recognized as one of the Top 5% Realtors nationwide for the past 7 years.     
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NUMBER1EXPERT®
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All rights reserved. All information deemed reliable but not guaranteed.
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