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I am doing a transfer upon death house. I have 5 children.

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I am doing a transfer...
I am doing a transfer upon death for my house. I have 5 children. Im wondering how they should hold the property, Joint tenants or tenants in common? Can you help me with that? Warrena
Submitted: 2 years ago.Category: Real Estate Law
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Answered in 2 minutes by:
1/22/2016
Real Estate Lawyer: Roger, Lawyer replied 2 years ago
Roger
Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 31,949
Experience: BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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Hi - my name is ***** ***** I'll be glad to assist.

How you title the property is really up to how you want the title to vest at your passing. If they hold the property as joint tenants, then each would own an undivided interest, but at each one of their deaths, the interest would transfer to the remaining siblings instead of passing to their estate (to spouse, children, etc.).

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Real Estate Lawyer: Roger, Lawyer replied 2 years ago

But, if title is held as tenants in common, then when each of your children pass away, their interest would pass to their heirs (spouse and children).

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Real Estate Lawyer: Roger, Lawyer replied 2 years ago

One other caveat is that you can deed the property either way, and if your children wish to change it, they can by issuing a new deed from themselves to themselves.......so it really may not make a huge difference in the long run (depending on what the children elect to do once in ownership of the property).

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