Legal Question in Real Estate Law in Missouri

Re: residential mortgage deed

In answer to your question, it is a simple thing for anyone to simply prepare a deed from himself to himself and others as joint tenants, deliver the deed to the new co-owner, and have the deed recorded. The effects of this would be that all of the co-owners would have full ownership to all of the property. All of the co-owners would have to agree and sign on any sale or transfer of the property, any loan against the property, any lease of the property and so forth. One effect would be that the surviving co-owners own the property automatically at the time any of the other co-owners die. But this may not be the best way to accomplish your goals. For instance, we have been using a Beneficiary Deed for sometime now which would have the effect of leaving the property to whoever you named on the deed at the time of your death, but it would retain for you the sole right to use the property as you chose during your lifetime. There are many other ways to transfer interests in property, and the best choice for you will depend upon many facts not included in your question. If you are not already represented by an attorney, you may call me for a free telphone consultation at 314-727-2822.