Legal Question in Tax Law in New Jersey

Re: joint ownership for nj

Hard to answer without seeing how title reads in the Deed. If title reads joint tenants with right of survivorship, survivor gets the entire ownership, with some possibility of death taxes (not income taxes) when first co-owner dies (1/2 of value will be part of the decedent's estate). If Deed reads ownership is as tenants in common, the same tax result will apply, but to get full ownership a Will would be needed, unless you are the sole heir of your father. If you could get me a copy of the Deed, I could provide a more specific answer and suggestions.