Q: Can property only in wife's name be changed to reflect tenants in entirety?
Mother in law gifted wife a property on 2020, 10 acres. MIL wanted it only in wife's name, which we agreed to at the time to avoid conflict.(we have been married since 2009) . We are finally building on it, and wife and I want to make the property a tenants by entirety, with both our names. I am confused reading some of the language as it states it must be in both of our names when acquired, however at time she acquired it we were already married for 11 years.
Would this be a tenants by entirety, or a tenancy in common or other?
A:
Some of this depends on what the deed to your wife says. If it's a generalized quit claim or warranty deed giving your wife full property rights, then she can now deed it to herself and you as joint tenants by the entireties.
The difference between tenants by the entirety and tenants in common is this:
You BOTH own 100% of the property = tenants by the entirety; you, as a married couple, are treated equally as one entity.
Each of you own 50% of the property - tenants in common.
Kenneth V Zichi and David Soble agree with this answer
A: To create a joint tenancy the parties must hold an undivided right to possession and have equal ownership interests. Joint tenants must acquire their interest at the same time and they must acquire their interest by the same instrument of conveyance (deed). Our real estate law is rooted in thousands of years of english legal history and the language that is on a deed can be considered "magic" legal language. Use the wrong language and your interest may not be as you intended. Therefore, have an experienced real estate attorney draft the correct document for your needs to put both parties in proper title and have them explain the legal implications of having a joint tenancy with full rights of survivorship. See www.ProvenResource.com for more information.
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