Joint Tenants In Fee Simple
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FAQ
One notable disadvantage of joint tenancy ownership is the potential lack of control over property shares. If one joint tenant wants to sell their interest, they can do so without the consent of the others, potentially leading to disputes. Additionally, since property passes directly to surviving joint tenants upon death, it may complicate estate planning.
Yes, you can add someone to an existing joint tenancy, but this process requires careful consideration. When you add a new owner, all parties must agree, and a new deed must be executed to reflect this change. It’s important to keep in mind that adding someone to the deed may alter the joint tenancy structure. For assistance in making this change smoothly, check out the resources available at USLegalForms.
