Legal Question in Real Estate Law in Tennessee
I am a co-owner of property. My question is....if something should happen to me, would the other party be the sole owner of the property or would my half go to my family?
Asked on 11/29/11, 1:52 pm
1 Answer from Attorneys
Ryan Nevin
Nevin Law Firm
There are mulitple ways to own property jointly. If you own it with "rights of survivorship" then the property would go to the co-owner. If you own it as just "tenants in common" or "joint tenants" without the "rights of survivorship" language then it would pass in your estate to your family or how to deem it in a will. Also, if the property is jointly owned with your wife as "tenancy by the entirety" then that is like "rights of surviviorship" and would go to the wife as co-owner and not to anyone else.
Answered on 11/29/11, 3:08 pm