Arizona Joint Tenancy Deed from Corporation to Husband and Wife

The Operating Agreement must provide for the right of survivorship.This new law avoids probate if you own interest in an LLC but do not have a trust.

Joint Tenancy Two or more people, including spouses, may hold title to their jointly owned real estate as joint tenants. There is a so-called right of survivorship, which means that when one dies, the property automatically transfers to the survivor without the necessity of probating the estate.

' Spouses typically acquire title as tenants by the entireties, which only applies to spouses. Sometimes you will see a couple who acquired the property before marriage. In some states, a premarital joint tenancy automatically becomes tenants by the entireties upon marriage.

If you're joint tenants and you both want to leave, either you or your ex-partner can end the tenancy by giving notice. You'll both need to move out.You can apply to court to change your ex-partner's tenancy to your name, or remove their name from a joint tenancy.

Corporations, however, have never been considered as capable of holding in joint tenancy with an individual.The court held that since a corporation cannot hold in joint tenancy it could not take the whole and that the testatrix therefore died intestate.

Tenancy by the entirety, another joint-owned property option, is when the parties are husband and wife. In this case, each spouse has an equal and undivided interest in the property. If one spouse dies, the full title of the property automatically passes to the surviving spouse.

Co ownership of property in California can be accomplished by many methods ranging from community property (for married couples) through tenancy in common, to ownership by corporations, limited liability companies, partnerships and trusts.