Legal Question in Wills and Trusts in New Jersey

Re: how should my deed read

This is a more complicated question than it sounds. New Jersey recognizes the following types of ownership: tenancy in common, joint tenancy and tenancy by entirety, but not community property. A grant of ownership of real estate to two or more persons is presumed to create a tenancy in common, unless otherwise stated in the conveyance. In the case of husband and wife, a tenancy by entirety is created unless stated otherwise. New Jersey Code �46-3-17, 17.2, 17.3; 3B-11-3.

To be legally correct, joint-tenancy real estate ownership means "joint tenancy with right of survivorship." A few states require use of those exact words on the deed. But in most states, "joint tenancy" is sufficient.

Survivorship means the joint tenant who outlives the joint tenant co-owner(s) automatically receives the deceased's share of the property without probate court costs or delays. Probate court avoidance is considered the major joint-tenancy advantage.

All that is usually necessary to clear the title of a deceased joint tenant's name is to record a certified copy of the death certificate and an affidavit of survivorship with the local recorder of deeds.

The will of a deceased joint tenant has no effect on their joint-tenancy property. However, joint tenants still need a written will. In the event of simultaneous death of all the joint tenants, such as in a plane crash, the will of each deceased joint tenant determines who receives their share of the property.

Or, in the unlikely event one joint tenant kills another joint tenant, the wrongdoer cannot receive the deceased joint tenant's share by survivorship, so the deceased joint tenant's will then becomes important.

Although joint tenancy usually involves two co-owners, such as husband and wife, there can be an unlimited number of joint tenants. But they all must take title at the same time by the same deed, and they all own equal shares.

For example, suppose John and Mary Buyer purchase their home as joint tenants. Each therefore owns a 50 percent share. However, when their daughter, Suzy, becomes 18 they decide to add her as an additional joint tenant.

To add Suzy to the title, John and Mary sign and record a quitclaim deed from themselves to John, Mary and Suzy as joint tenants with right of survivorship. The result is each of the three joint tenants now own a one-third interest in the home.

Estate planning is very complex and unique to every individual. Be sure you consult with an attorney. Feel free to call our offices or e-mail.

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Re: how should my deed read

You need to do a new deed from you and your husband back to yourselfs specifically saying as tenants in common. Then you need to do a will leaving your share to your daughter. You may want to include a clause about your husband staying in the house for some period of time. If you want to do this our office can help you. Please call for an appointment.

Re: how should my deed read

You need an attorney to advise you.

One way to do this MIGHT be: you and your husband sign a deed from yourself and husband back to yourself and husband as tenants in commmon. Then you need to redo your Will.

There may be other factors that prevent this from being the correct course of action. You really need an attorney's assistance. So long as there are no complicating factors, this should not be too terribly complicated, should not be expensive.

If you would like me to assist, please call my office. I am in Hackensack.

My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.

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