Why Tenancy In Common Agreements Should be Specific
Agreements must be drafted specifically and if they are not, relief cannot be granted in the manner that the parties thought should have occurred. In Leg Investments v. Boxler, the California Court of Appeals found that a tenancy in common agreement should have been specific In 1976 Carl and Judith Bumpass and the Boxler family purchased […]
Holding Title as Joint Tenants
Joint Tenancy is a type of ownership of real estate by two or more persons in which each owns an undivided interest in the whole property. Joint tenancy is often touted as one method of estate planning; however, there are consequences you may not be aware of that could not make it the best option available. When a joint tenant dies, the interest in the property is then vested into the interest of the […]
Using Joint Tenancy as an Estate Planning Tool
I often hear from clients and potential clients that they want to add a relative’s name to a piece of real estate as “joint tenants” in order to avoid probate. Although this is probably the cheapest estate planning tool you can do in the short term, it is the least favorable for most circumstances for […]
What Happens When a Co-Owner Wants to Sell
The right of one owner to sell real estate owned with partners is nearly absolute under California law. It does not even require a majority of the partners to agree to sell. As long as one owner wants to sell and that owner files a partition lawsuit, the real estate could be sold. Often times […]
