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Real Estate Tips
When two or more individuals own property together, each one owning an equal interest and having equal rights in the property including the rights of survivorship, it is referred to as joint tenancy. Any of the joint tenants may transfer his or her interest in the property to another party, but this dissolves the joint tenancy and creates a tenants-in-common interest with respect to the other parties whose names are on the title.
The most important feature of joint tenancy is the right of survivorship. A joint tenant cannot will his or her interest in the property to others. The surviving joint tenant (or tenants) simply becomes the owner or owners of the property without going through the probate process, which can involve expensive legal fees and may take months to resolve.
It is important to get professional advice when you plan to buy and hold title to real estate with another person.
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Real Estate Trivia
| Q |
What home product makes lawn mowing easier than ever?
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| A |
The Robomow, a robot lawn mower manufactured in the UK by Friendly Machines, can cut 6,000 square yards of lawn all by itself. |
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The Farm and Home Team
Farm & Home Realty
1010 W. 5th Street
Canton, SD 57013
605-987-5874
Toll Free: 1-877-724-SCHUTTE (8883)
Cell: 605-366-7028
Fax: 605-987-5282
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Email: FarmandHomeTeam@NUMBER1EXPERT.com
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When it comes to buying or selling your home, you want to deal with a REALTOR who makes you feel comfortable. Our style is casual. You won't get a
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estate is our full-time job. Our results are proven, too. Farm & Home Realty, Inc. is consistently involved as a seller's agent, buyer's agent or both in many of the local transactions. We encourage you to take advantage
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