Joint Tenancy Definition With Spouse In Texas
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Joint Tenancies In Texas Unlike most states Texas does not automatically recognize joint tenancies as having a right of survivorship. Instead the parties must agree, in writing, to include a right of survivorship. Contact our offices to discuss your situation with our experienced real estate attorneys.
In Texas, both names should be on the deed. BUT even if one spouse is listed it does not mean that the other spouse could be legal co-owner of the property. It could be community property in Texas.
Most people know that Texas is a community property state. Many people also assume that all community property has to be divided equally in the event of a divorce. However, property can be community, separate, quasi-community or mixed character, depending on when and how it was acquired.
Adding your spouse to your property deed may offer various benefits, including tax exemptions and simplified estate planning. While not required, adding your new spouse to your deed is a straightforward process that may be advantageous.
Texas law does not include a presumption of survivorship. In order for survivorship rights to apply to jointly-owned property, the owners must execute a written agreement covering survivorship rights. This must be filed with the county.
Traditionally, this required there to be indivisible fault between multiple parties, but the way Texas uses it allows a broader application to more kinds of cases. In Texas, joint and several liability can be applied in most cases where a defendant is more than 50% at-fault for a victim's damages.
Cotenant Rights Cotenants may not exclude other cotenants from possessing, using or occupying the same part or parcel. This undivided right of possession forms the basis of the coten- ancy relationship. Cotenants may terminate the cotenancy at any time by partitioning, which changes co-ownership to sole ownership.
Texas recognizes four basic types of ownership: sole ownership, community property, joint tenants, and tenants in common.
“Texas recognizes two types of co-tenancies which may be deeded: a tenancy in common and a joint tenancy. . . . Under a tenancy in common, the deeded interest descends to the heirs and beneficiaries of the deceased cotenant and not to the surviving tenants. . . .
