WHAT IS JOINT TENANCY?
Joint tenancy is when individuals own equal shares in a property. Often, spouses hold property as joint tenants. All joint tenants must agree to a sale, to protect each other from having their property sold without their knowledge. If a joint tenant dies, the other joint tenant inherits their share in the property. Contact a Iowa real estate attorney representing clients in Marshalltown, Iowa today to schedule your initial consultation.
A similar form of tenancy is called tenancy in the entirety, which gives each spouse an undivided half of the property. There is also tenancy in common, which allows unmarried partners or commercial partners to own unequal shares in a property. All of these types of ownership can become complicated, and the advice of a competent real estate attorney is essential to a real estate buyer.
Marshalltown real estate lawyer, attorney Marshalltown, IA, mortgage / foreclosure / closing law firm - If you would like to schedule a initial consultation regarding your case, please contact the Luthens Law Offices at (800) 685-7948 or complete our inquiry form.