Legal Question in Wills and Trusts in Nevada
title to real estate held as joint tennants
If one of the spouses passes away and a home was held in joint tennancy, does the surviving spouse need to change the title and if so, how is it done? There is also no mortgage on the property.
5 Answers from Attorneys
Re: title to real estate held as joint tennants
The local county assessor has a Death of joint tenant form to fill out that also requires a copy of the death certificate. Also file for an exemption from assessment value increase because it is a husband' s interest being transferred to the wife. For tax purposes, his half of the basis for the house [cost of original purchase, repairs, etc, subtracted from what sell it for equals profit] increases to the house's fair market value at the time of his death [I think your's might also]. When you die, the same thing will happen but the assessment exception does not apply.
Re: title to real estate held as joint tennants
Just file an Affidavit Terminating Joint Tenancy with an attached cerfied copy of the Death Certificate with the County Recoreder.
Re: title to real estate held as joint tennants
no, just file and affidavit of death of joint tenant.
Re: title to real estate held as joint tennants
No.
Re: title to real estate held as joint tennants
No.
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