Virginia Bargain and Sale Deed - Husband and Wife to Two Individuals as Joint Tenants
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FAQ
This is known as 'Severing the Joint Tenancy'. It requires service of a written notice of change the 'severance'. It can be done without the other owner's cooperation or agreement. It is recorded at the Land Registry, and the other owner will know it has been done but only 'after the event' so to speak.
In California, all property bought during the marriage with income that was earned during the marriage is deemed "community property." The law implies that both spouses own this property equally, regardless of which name is on the title deed.
In California, most married couples hold real property (such as land and buildings) as joint tenants with right of survivorship.For instance, many married couples share real property as joint tenants. This way, upon the death of a spouse, the surviving spouse will own 100% share of the property.
In estate law, joint tenancy is a special form of ownership by two or more persons of the same property. The individuals, who are called joint tenants, share equal ownership of the property and have the equal, undivided right to keep or dispose of the property. Joint tenancy creates a Right of Survivorship.
The deed specifies that the joint tenants own an equal amount of interest in the purchased property and are thus equally liable for it financially. Since the joint tenants have equal interest, the property cannot be sold without all parties' consent.
If you look at the registered title to your own jointly owned property and the text isn't shown on it, you own it as joint tenants. If it is there, you own it as tenants-in-common.
In the event that both you and the co-owner of your home would like to get rid of your property without any fuss, you have the option of a partition sale which means that the court will take care of your property sale for you.
For example, if one joint tenant wants to sell the property but the other joint tenant doesn`t want to sell, it is possible to ask for a court order to either physically divide the property or sell it and divide the sales proceeds among the joint tenant owners.