Legal Question in Real Estate Law in California
My Husband and I are buying a home that we will rent to our kids. How should we take title to insure right of survivorship?
1 Answer from Attorneys
I see from your Zip code that you are from out of state. If the home is in California, taking title as joint tenants with right of survivorship is one way, and the traditional way. We also now have a "community property with right of survivorship" form of holding title, created by statute a few years ago, that might have appeal for California couples. If you live elsewhere, however, maybe such an unusual form of holding title would complicate matters - and that is something you might ask an attorney licensed and practicing in your home state. I'd recommend joint tenancy as a simple and straightforward solution unless a sophisticated estate or family wealth plan would better meet your needs, in which case your home-state attorney might want to set up a trust or trusts for you.
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