Legal Question in Real Estate Law in California
Joint tenancy and tenants in common
Can property held in joint tenancy be conveyed to the same people in the same proportions, but make them tenants in common?
Asked on 9/03/08, 6:21 pm
2 Answers from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Re: Joint tenancy and tenants in common
Yes.
Answered on 9/03/08, 7:16 pm
Robert F. Cohen
Law Office of Robert F. Cohen
Re: Joint tenancy and tenants in common
Yes and, except for estate planning purposes, it's often preferable. With joint tenancy, if one of the parties dies, then the other party becomes the sole owner. With tenants in common, that person's portion of the property would pass to his/her beneficiaries rather than to the other owner.
It also is less risky to be tenants in common. As a joint tenant, arguably the other tenant could try to sell the entire property without your approval.
Answered on 9/03/08, 8:20 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
