One thought on “Joint Tenancy with right of survivorship Can property held this way be gifted…

  1. Re: Joint Tenancy with right of survivorship
    Yes, but doing so changes it from being in joint tenancy to tenants in common. Both forms of ownership have the same effect on what can be done with the property; the difference is that with joint tenancy, probate and inheritance are eliminated by the property passing directly to the surviving joint tenants [look upon it as being the ante in a poker game; if everyone drops out, you split the chips in the ante, with everyone having put in the same amount and having the same chance of winning if you do not look at the cards; but if you drop out of the game--cash in your chips--the pots suddenly become the asset of all the players still in the game].

    George Shers
    Law Offices of Georges H. Shers
    4170 Glenwood Terrace, Suite #1
    Union City, CA 94587

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