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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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