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2452 E. Stadium Blvd.
Ann Arbor, MI 48104 Cell : 734-395-0650 |
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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 734-395-0650.
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Find Out About the Latest Homes for Sale First! I add my newest homes and other real estate listings to this web site first. It can be some time before they appear in the MLS. Find Out More > View All Offers >
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The Best Guide We Could Have Wished For "... patient, principled, and clearly had our best interests in mind ..." Tana Lin and Paul Holland Read Quote > View All Quotes >
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Compare three mortgages at one
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Michal Porath is one of The Top
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Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from Michal, a proven Ann Arbor, Saline and Chelsea, Michigan NUMBER1EXPERT™ Top Selling real estate agent.
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When two or more individuals own property together, each one owning an equal interest and having equal rights in the property including the rights of survivorship, it is referred to as joint tenancy. Any of the joint tenants may transfer his or her interest in the property to another party, but this dissolves the joint tenancy and creates a tenants-in-common interest with respect to the other parties whose names are on the title.
The most important feature of joint tenancy is the right of survivorship. A joint tenant cannot will his or her interest in the property to others. The surviving joint tenant (or tenants) simply becomes the owner or owners of the property without going through the probate process, which can involve expensive legal fees and may take months to resolve.
It is important to get professional advice when you plan to buy and hold title to real estate with another person.
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What is the world's most expensive Monopoly set?
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San Francisco jeweler Sidney Mobell created an exclusive $2 million Monopoly set, with solid 23 carat gold houses, chimneys made of rubies and sapphires and dice with 42 full cut diamonds for spots. |
See More Real Estate Trivia > |
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