Legal Question in Real Estate Law in California
with three parties on a joint tenancy, how would one of the parties retain their share in order to sign it over to an heir? I've heard incorporation is the only option if the other two parties refuse to amend the title to tenants in common. Is that true? If not what are the options when the other parties refuse to cooperate?
1 Answer from Attorneys
No, it's not true.......a joint tenant may convert his or her ownership to a tenancy in common at any time (during lifetime) without the consent or cooperation of the others. Civil Code section 683.2 describes how it is done. Basically, you prepare a deed to yourself, conveying from yourself as a joint tenant to yourself as a tenant in common; then execute before a notary and record the deed. I recommend the assistance of an attorney or other professional, knowlegable about writing deeds, in preparing the deed.
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