Joint Tenancy with Right of Survivorship

Although used frequently in other states, a joint tenancy with right of survivorship is still a new and rather uncommon mode of holding title to real estate in Texas. It is a vehicle primarily used to avoid probate complications and expense upon the death of a co-owner. Under a joint tenancy, title to the property interest of a deceased owner automatically transfers to the surviving co-owner, without the necessity of filing a probate action in the probate courts. The Texas statutes are not as clear about the process required to substantiate a joint tenancy as one might like, causing some initial concern among title companies. However, their use and acceptance have recently grown to the extent that they are now a recognized form of ownership in Texas.

Price: $145.00