Rancho Cucamonga, CA asked in Contracts and Estate Planning for California

Q: So if both people want the other to have full ownership of car only when one of them passes away. Leaving title

the way it is with the word "or" between names in California. Is that what will happen?

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James L. Arrasmith
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Answered

A: If two people own a car jointly and the title lists both names with the word "or" between them, it means that either person has the right to transfer ownership of the car without the other's permission. If one of the owners passes away, the surviving owner would become the sole owner of the car.

However, if both owners want the other to have full ownership of the car only when one of them passes away, they may want to consider changing the title to reflect their wishes. This can be done by transferring ownership of the car to a living trust or creating a joint tenancy with right of survivorship.

To transfer ownership of the car to a living trust, both owners would need to create a trust agreement and transfer ownership of the car to the trust. The trust would specify what should happen to the car when one of the owners passes away.

To create a joint tenancy with right of survivorship, both owners would need to transfer ownership of the car to themselves as joint tenants. This means that when one of the owners passes away, the surviving owner automatically becomes the sole owner of the car.

It's important to consult with an attorney who specializes in estate planning or property law to ensure that the transfer of ownership is done correctly and legally. The attorney can advise on the best options for the specific circumstances and help to avoid any unintended legal consequences.

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