Joint Tenancy With Survivorship Warranty Deed Georgia
Description
How to fill out Agreement Between Unmarried Individuals To Purchase And Hold Residence As Joint Tenants With Right Of Survivorship?
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FAQ
Under Georgia law, there are two types of joint ownership. The first, known as ?Joint Ownership with Rights of Survivorship? means that two or more parties have simultaneous ownership of a property. When one of those parties dies, their share of the property passes to the surviving owner(s).
Georgia recognizes joint tenancy with right of survivorship as a common form of joint ownership.
Under Georgia law, there are two types of joint ownership. The first, known as ?Joint Ownership with Rights of Survivorship? means that two or more parties have simultaneous ownership of a property. When one of those parties dies, their share of the property passes to the surviving owner(s).
If one of two owners of property held in a JTWROS dies, ownership is transferred automatically to the remaining owner. This is called a right of survivorship. Unlike a tenancy in common, a co-owner cannot transfer their interest in property owned subject to a right of survivorship without destroying the right.
Unless the joint tenancy with the right of survivorship is otherwise disposed of in a final order of divorce or annulment, if either party to an instrument of title creating a joint tenancy with the right of survivorship files an affidavit in the real property records maintained by the clerk of superior court of the ...