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Tag «joint tenants»

Two Better Alternatives to Adding a Joint Tenant Owner

The unintended consequences of adding a co-owner to real property are unfavorable tax treatment, exposure to the new owner’s creditors, relinquished control to sell and mortgage the real property, and failure to transfer due to an unplanned order of death. Revocable Transfer on Death Deeds (TODD) and revocable living trusts are better alternatives to adding …