Legal Question in Real Estate Law in New Jersey

Re: Real Estate Title

Tenancy by the entirety is a unique real estate designation for joint tenancy with right of survivorship. If nothing is specified otherwise in the Deed TBE is presumed. The surviving spouse automatically, by the Deed, inherits the "entire" property when one spouse dies, even if there is a Will that says something else. Tenancy in Common (TIC) is joint owenership, but has no automatic survivorship rights, so each owner can leave their share to whomever they chose, by Will. If no ratio for TIC is specified, the presumption is 50/50 ownership. There are a variety of reasons why TIC is prefereable, including death tax planning, spouses who have children from a prior marriage that they want to share in the house on their death, etc. If TIC is wanted/needed, a new Deed can correct this (low cost, simple procedure). If you need more information or assistance, contact me directly.

Re: Real Estate Title

If there is no specification and you are married, then it is a Tenancy by the Entirety.