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Titles >Joint Tenancy

When two or more individuals own property together, each one owning an equal interest and having equal rights in the property including the rights of survivorship, it is referred to as joint tenancy. Any of the joint tenants may transfer his or her interest in the property to another party, but this dissolves the joint tenancy and creates a tenants-in-common interest with respect to the other parties whose names are on the title.

The most important feature of joint tenancy is the right of survivorship. A joint tenant cannot will his or her interest in the property to others. The surviving joint tenant (or tenants) simply becomes the owner or owners of the property without going through the probate process, which can involve expensive legal fees and may take months to resolve.

It is important to get professional advice when you plan to buy and hold title to real estate with another person.

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Q	What recent hit movie features a field trip scene that supposedly takes place at Columbia University in New York?
A	The scene in the movie "Spider-Man", where Peter Parker shoots photos of Mary Jane and is bitten by the spider, was actually filmed in the Museum of Natural History in Los Angeles, California.
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The Hélčne Amyotte Team, REALTOR®, real estate agents and broker for Ottawa, Kanata and Orleans, Ontario home listings, property and land for sale - NUMBER1EXPERT(tm)

The Hélčne Amyotte Team
Keller Williams Ottawa Realty
610 Bronson Avenue
Ottawa ON K1S 4E6
Direct: 613-237-5996
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