Should Spouses Always Take Title to Land in Joint Tenancy or Survivorship Marital Property?
Not always. In some cases joint tenancy and/or survivorship marital property simplifies a transfer of property at death. Title in joint tenancy and/or survivorship marital property, however, makes it difficult for the owners to change their mind about what should be done with the property at death. Spouses should also consider tax consequences, which vary depending upon how title is taken. If the parties have entered into a marital property agreement, that agreement may supersede how the title is actually registered. Survey Is a survey necessary? Although it is not mandatory in many instances, it is in our opinion most desirable for both buyer and seller to have the benefit of the survey. A current survey would disclose any encroachments and also provide the buyer of property an opportunity to be insured against encroachments at the time of sale. Why Hire a Lawyer? The purchase of real estate may involve the largest investment in your lifetime. Real Estate agents, title companies, fina
