Legal Question in Credit and Debt Law in Tennessee
joint ownership of car
my boyfriend and i have joint ownership in a car. it is paid for. if something happened to either of us, would it automatically go to surviving person or do
grown children figure in?
1 Answer from Attorneys
Re: joint ownership of car
There are essentially 2 types of joint ownership. The first is joint ownership with right of survivorship. This type of ownership must be spelled out in the legal title documents and it would automatically transfer complete title to the survivor should one of you become deceased. The other type of joint ownership is what could be referred to as simply joint ownership. This type of ownership does not have a right of survivorship and the deceased owner would presumably pass his or her ownership interest onto any surviving heirs. As with most legal questions of this nature, the answer will be controlled by the documents and without reviewing those it is impossible to give anything resembling a definitive legal answer. I hope, however, that this provides some guidance to you in this area. Should you have any additional questions, please do not hesitate to contact me.