Joint Tenancy For Unmarried Couples In Georgia
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Joint Tenancy. If you take title as joint tenants, you share equal ownership of the property and each of you has the right to use the entire property. If one joint tenant dies, the other automatically becomes the owner of the deceased person's share, even if there's a will to the contrary.
Technically, the traditional way for a married couple with the same last name is ``Mr. and Mrs. John Doe,'' which also turns my inner feminist tomato red, but a lot of the other options (married, different last names, for example) use the ``Mr. John Doe and Mrs. Jane Day'' format. :)
Perhaps the most common way for unmarried couples to take title to real property is as "tenants in common." Unlike a joint tenancy, a tenant in common has no automatic right to inherit the property when the other partner dies.
Jointly owned real estate goes automatically to your husband/wife. It is possible for jointly held property to go automatically to a spouse in Georgia.
Unmarried couples typically hold title in one of two ways: joint or tenancy in common.
In Georgia, when an unmarried couple who own property together breaks up, the division of property is not automatically determined by law. Instead, the couple will need to come to an agreement on how to divide their assets and debts.
As long as you and your ex can agree on how to divide up your assets, there is no need to involve lawyers or the court system. Even if children are involved, in most states you have the opportunity to separate in private, ing to whatever arrangements the two of you agree on.