Advertisement
Joint tenancy is a type of property ownership. Find out how it works, and what happens if one of the owners dies.
Joint tenancy with right of survivorship is the most common way for a married couple to own real estate. Instead of each person having a 50% interest, both spouses are considered to be 100% owners of the property. If one spouse dies, the surviving spouse becomes the sole owner. (See also tenants in common.)
Example: “A property owned under joint tenancy does not become part of the deceased person’s estate and is not subject to probate unless both spouses die at the same time.”
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
You’ve reached your 40s, are mid-way in your career and realize you’ll never have a pension. Here’s how to...
Reverse mortgages do the job of freeing up income for house-rich, cash-poor Canadian seniors. But their terms are often...
The inflation reading gives some economists more confidence that the Bank of Canada will cut its benchmark interest rate...
Many parents loan or gift money to their adult children for real estate purchases. Here are the legal and...
Which ETFs should you invest in? Which ones best suit your risk tolerance? What about personal ethics? Check out...
Falling U.S. inflation leads to rate cut certainty, Walmart’s strong quarter, Barrick beats Franco-Nevada for the gold metal, and...
Cards that waive or refund the fee for foreign currency charges are few and far between—but if you’re a...
