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Written by Steven J.J. Weisman, columnist
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Friday, 25 September 2009 00:00 |
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Joint tenancy is a manner of co-ownership of property. At the death of one joint owner, full ownership automatically passes to the surviving joint tenant or tenants. Many people own property jointly as a simple way of avoiding probate. But the risks presented by joint tenancies can often be way too high.
In the September 21 Research Reports, the Ask the Expert column outlines these risks and proposes an option that also avoids probate without the problems posed by joint tenancies.
This article has been adapted from a longer article in the latest issue of Research Reports, available free to AIER subscribers or $2 for non-members.
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NOW JOINT TENANCY WHICH IS PROBABLY USED BY MOST MARRIED COUPLE TURNS OUT TO BE A LEGAL NIGHTMARE.....
GIVE ME A BREAK....WHAT WE NEED IS A FEW MORE LAWYERS THROUGH-OUT OUR POLITICAL SYSTEM AND EVERYTHING WILL BE JUST RIGHT FOR THE MONEY HUNGRY ATTORNEYS.
MAYBE THEY CAN ADD SOMETHING TO THE HEALTHCARE BILL TO CORRECT THESE PROBLEMS....OR IS THAT TOO COMPLICATED.....
All of AIER's 1934-2009 publications are available exclusively to subscribing members through our online archive. In articles such as "Expensive Joints" members should click on the "free to AIER subscribers link." This will bring you to the archive. The archive can also be found at http://www.aier.org/archive or from the homepage by clicking on "Archive" at the top buttons.
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Once you have logged into the archive you will see a page with “Archive” at the top. Click on the latest issues to read our most recent publications. You will find the article above in the September 21 Issue of Research Reports.