Legal Question in Wills and Trusts in California
How to change "Tenats in common" to "Joint tenants"?
2 Answers from Attorneys
To create a Joint Tenancy requires all parties on title to the property to execute a new Deed and record it with the Recorder for the County where the property is located. There are a number of rules concerning joint tenancies so you should probably discuss your situation with an attorney. For example, a joint tenancy can be severed unilaterally, meaning that the joint tenancy can be converted back into a tenancy in common by the other party without your consent. A joint tenancy represents an expectancy that the survivor will receive full title when the other joint tenant (or tenants) have passed away.
You also need to check with the Assessor's Office that making the chnage will not trigger a new land appraisal or be considered a conveyance of the land so that transfer taxes and increased real property taxes are payable. If it is a parcel of land large enough to build currently two homes on it, we careful that they do not view the change iln ownership title as a barrier to future development by arguing that it is one large, unsubdiviable lot[not likely but you must be aware of all the benefits and detriments in your proposed action].