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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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| Q |
What famous building receives a fresh coat of 300 tons of reddish-green paint every seven years?
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| A |
The Eiffel Tower in Paris, France. |
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Pat Decillis Keller Williams Properties 1625 North Commerce Parkway Suite 105 Weston, FL 33326 Direct: 954-306-4427 Office: 954-306-4431 Fax: 954-306-4424 Email: pat@patdecillis.com
Pat brings over 28 years of real estate experience to the team. Starting her career in Broward County, Pat has helped build our Community. Raising two children, Dean and Dianne, Pat has been active in local schools, sports clubs and community leadership programs. Pat has been a licensed real estate agent since 1980 and a licensed broker since 1988. Pat has consistently been an office leader, winning numerous awards and staying in the top 1% of all realtors in the U.S. She has also achieved the prestigious RE/MAX 100% Club, Platinum Club and Hall of Fame Memberships. Her biggest asset is her strong negotiating skills, which has enabled her to get the highest price and best terms for her clients.   

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