Q: Joint Tenants With Rights of Surviorship Deed
My father and I are on a relative's deed, who since passed, as Joint Tenants with Rights of Survivorship. If we sell the property, is it required that the proceeds of the property sale be split amongst the co-tenants 50/50?
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- Tennessee
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A: Usually both owners want to get paid. If you and your Father have another arrangement, that is your business. But if I represent the seller, there will be one check with both owners as payees. If you Father wants to convey his interest to you prior to the sale, then he can do so or vice versa.
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