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Welcome! Here You Can Find Great Information on Albuquerque, Rio Rancho and East Side Mountains, New Mexico Real Estate

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School Reports in Albuquerque, Rio Rancho and East Side Mountains, New Mexico

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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 holds the title as the tallest reinforced concrete building in the U.S.?
A	311 South Wacker Drive in Chicago was completed in 1990 and is 65 stories high.
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Christopher Anderson, REALTOR®, real estate agent and broker for Albuquerque, Rio Rancho and East Side Mountains, New Mexico home listings, property and land for sale - NUMBER1EXPERT

The Christopher Anderson Team
Metroplex Realty
122 Tulane Dr SE
Albuquerque, NM 87106
505-220-6782
Fax: 505-266-4617
christopheranderson@number1expert.com

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