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Pro: Joint tenants enjoy right of survivorship, so you won't have to worry about fighting the estate or relatives for the house in the event of your partner's death.
Pursuant to this right, upon the death of one of the joint tenants (JTs), the interest held by the tenant passes to the remaining joint tenants without having to undergo probate.
Any act of a joint tenant that destroys any one or more of the four unities operates as a severance of the JTWRO and extinguishes the right of survivorship.
The original regulations stated that to be a qualified disclaimer, the joint tenant would need to disclaim the interest acquired in the joint tenancy within nine months of the transfer creating the tenancy.
For gift tax purposes, the creation of a joint bank account is generally treated as an incomplete transfer where the contributing joint tenant may unilaterally withdraw contributed funds without the consent of the other joint tenant [Treas.
A person named as a joint tenant becomes a co-owner, and the act of naming that person is normally a gift, unless the tenancy is revocable, such as normally exists with joint tenancy bank, savings and loan, and credit union accounts.
The Court in McDonald, as in Kennedy, reasoned that since each joint tenant possessed a right of partition, which would destroy the survivorship interest (i.e., change the joint tenancy to a tenancy in common), each joint tenant could, by partitioning the property, dispose of his or her interest in the property by will or otherwise.
Having placed the property in joint ownership with your new wife it is imperative you ensure that you own the property as tenants in common and not joint tenants.
25.2518-2(c) (4)(i) now permits a joint tenant to disclaim jointly held property not unilaterally severable on the same basis as joint property unilaterally severable.
The advantages of joint tenancy and tenancy by the entirety are that it is simple to arrange, and that, at the death of all joint tenants except the last one, title to the jointly-held property passes to the surviving joint tenant without the delay, expense, or legal entanglements and confusion of probate.
Sellers, Earl Ajax (Jack) Fillingim -- sole surviving joint tenant; buyer, Lawrence D.
The killer, who had previously tried to run down an ex-partner with his van and doused another with boiling water, was also allowed to become a joint tenant at their home in Granville Road, Old Hill, despite warnings about his behaviour.
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- joint snake
- joint special operations air component commander
- joint special operations area
- joint special operations task force
- joint specialty officer or joint specialist
- Joint splice
- joint staff
- Joint Staff doctrine sponsor
- joint state area command
- joint stock
- joint stockism
- Joint stool
- Joint Strategic Capabilities Plan
- Joint Strategic Planning System
- joint suppression of enemy air defenses
- joint table of allowances
- joint table of distribution
- Joint Tactical Air Reconnaissance/Surveillance Mission Report
- joint target list
- joint targeting coordination board
- joint targeting steering group
- joint task force
- joint task force counterintelligence coordinating authority
- Joint Technical Coordinating Group for Munitions Effectiveness
- Joint tenancy
- Joint tenant
- joint terminal attack controller
- joint test publication
- joint theater missile defense
- joint total asset visibility
- Joint Transportation Board
- joint urban operations
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- joint warfighting capabilities assessment
- Joint Worldwide Intelligence Communications System
- joint zone (air, land, or sea)
- jointed
- jointed charlock
- jointed rush
- jointer
- jointer plane
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- Jointing rule
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- Joint Technical Working Council
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- Joint Technologies Exploration Center
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- Joint Technology Initiative
- Joint Technology Insertion Program
- Joint Technology Panel for Robotics
- Joint Telecommunications Committee
- Joint Telecommunications Resources Board
- Joint Telecommunications Standards Coordinating Committee
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- Joint Tenants with Rights of Survivorship
- Joint Terminal Attack Control Virtual Trainer
- Joint terminal attack controller
- Joint terminal attack controller
- Joint Terminal Engineering Office
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- Joint Termination Regulation
- Joint Terminology and Doctrine Committee
- Joint Terms of Reference
- Joint Terrain Analysis Tool
- Joint Terrorism Analysis Centre
- Joint Terrorism Task Force
- Joint Test
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- Joint Test and Evaluation Lab
- Joint Test and Evaluation Master Plan
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