What is Joint Tenancy Home Ownership?
Home ownership is a big deal, and people are often looking for ways to make it a little simpler. Joint tenancy might do this, but only if you really understand what it is. The ownership of your home will be split between you and whoever else is involved, which typically means your spouse or partner. One of the biggest points that come along with these terms is the idea of “right of survivorship” which centers around what happens when one of you dies. It gives the ownership and all other rights involved over to the surviving partner, so that they are the sole keeper of the house. These may be subject to community property laws depending on the state you reside. People might avoid this issue for various reasons, but it really is something they should look into. It can offer a lot of things, although you do need to be careful. For one thing, you don’t want to get into these terms and then disagree about how they should be laid out, which can make for lots of drama. You also shouldn’t make
