Question about Joint Tenants- what happens when one of them dies?
My parents owned their home as Joint Tenants, and now my father has passed away. Everything they had was joint, so there is no probate, but do they need to have a deed prepared/recorded transferring the title from both of them as JT to my mother’s name alone? Or can they just wait until she wants to sell or transfer the property and record the change then?
If it matters, the property is in Minnesota.
Thanks!
2 Responses
Patricia C
27 Feb 2010
wizjp
27 Feb 2010
As a J/T the property paasses to her outside of probate. She does not need a new deed. Just a certified copy of his death certificate to present when he might be required to sign something.
I wouldn’t go to the expense of a new deed till I was ready to transfer
WHAT IS JOINT TENANCY? When two or more real estate co-owners hold title as joint tenants with the right of survivorship (or as tenancy by the entireties between husband and wife in states allowing that method), and when one joint tenant dies, the surviving joint tenant automatically owns the entire property.
No probate court proceedings are required. The deceased joint tenant’s will has no effect on joint tenancy property.
To illustrate, suppose husband, wife and their adult daughter own a home as joint tenants, each with one-third shares. The husband dies. The widow and daughter now each own 50 percent of the property as surviving joint tenants.
To remove the late husband’s name from the title, in most states all that is required is recording an affidavit of survivorship and a certified copy of the husband’s death certificate.