Legal Question in Real Estate Law in California
Does Living Trust by one Person Break Joint Tenancy?
A house is owned by two persons (let's call them Jane and Jack) in joint tenancy. Jane executes a living trust so that her daughter will receive her share of the property. Doesn't the execution of that living trust constitute breaking the joint tenancy, since Jane's share has been conveyed to someone else, and Jack no longer has rights of survivorship? Or would another document need to be executed?
Thankyou very much.
3 Answers from Attorneys
Re: Does Living Trust by one Person Break Joint Tenancy?
Simply signing a trust would not sever the joint tenancy because the trust does not convey a present interest in the property to anyone. Jane would need to execute and record a deed transferring her interest in the property into the trust.
You should spend the time and relatively small amount of money to discuss your situation in person with an estate planning attorney in your area. Unless you do so, and the appropropriate documents are prepared, Jane's wishes may not be recognized, and significant future costs may be incurred.
Re: Does Living Trust by one Person Break Joint Tenancy?
Not until the person passes away becuase they can always revoke the trust or just that particular clause.
Additionally, if Jane records a deed transferring the property into her trust, then it may be broken because she has now, effectively, made the parites co-tenants.
If you would like to discuss this matter further in a more private forum, please feel free to contact me directly at the email address provided by LawGuru or through our firm�s website located at PasadenaEstatePlanning.com
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Re: Does Living Trust by one Person Break Joint Tenancy?
Unless the property is transferred into the trust nothing happens. The living trust does not change title to any property. The transfer of the property into the trust changes ownership.