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A joint tenancy or joint tenancy with right of survivorship (JTWROS) is a type of concurrent estate in which co-owners have a right of survivorship, meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. The deceased owner's interest in the ...
In a partition action, the plaintiff sought credit for the full amount of his superior contributions. The Court held that, in the absence of fraud, the working of the deed operated to convey a one-half interest to each of the two joint tenants. The decision relies the authorities of Masgai v. Masgai, 460 Pa. 453, 333 A.2d 861 (1975), and ...
The four unities is a concept in the common law of real property that describes conditions that must exist in order to create certain kinds of property interests. . Specifically, these four unities must be met for two or more people to own property as joint tenants with legal right of survivorship, or for a married couple to own property as tenants by
In the case of joint tenants with rights of survivorship, all assets go to the surviving spouse." Joint accounts work differently in community property states than in common law states.
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A deed is a legal document that is signed and delivered, especially concerning the ownership of property or legal rights. Specifically, in common law, a deed is any legal instrument in writing which passes, affirms or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions, sealed.
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In a deed, a habendum clause usually begins with the words "to have and to hold". This phrase is the translation of the Latin habendum et tenendum that historically commenced these clauses in deeds. Technically speaking, the "to have" (Latin: habendum ) is separate from the "to hold" (Latin: tenendum ), such that the tenendum clause is ...