However, a growing trend for husbands and wives is to create " joint trusts " where both are " grantors " of the trust, thus mirroring the familiar concept of joint tenancy ownership.
42.
In a joint tenancy with rights of survivorship deed, or JTWROS, the death of one tenant means that the surviving tenant ( s ) become the sole owner ( s ) of the estate.
43.
A : Internal Revenue Service spokesman Bill Steiner says you won't have to worry about the gift tax, even though " technically " a joint tenancy imposes tax obligations equally on the parties involved.
44.
In a joint tenancy, on the other hand, if one owner dies, his or her share in the jointly owned property passes to the surviving partner or partners rather than to other heirs or beneficiaries.
45.
Many jurisdictions refer to a joint tenancy as a joint tenancy with right of survivorship, and a few U . S . states treat the phrase joint tenancy as synonymous with a tenancy in common.
46.
Many jurisdictions refer to a joint tenancy as a joint tenancy with right of survivorship, and a few U . S . states treat the phrase joint tenancy as synonymous with a tenancy in common.
47.
Many jurisdictions refer to a joint tenancy as a joint tenancy with right of survivorship, and a few U . S . states treat the phrase joint tenancy as synonymous with a tenancy in common.
48.
Some states have created a newer form of community property, called " community property with right of survivorship . " This form of holding title has some similarities to joint tenancy with right of survivorship.
49.
At the same time, Parella said, a recent court decision involving a federal bankruptcy case seems to indicate that a tenancy by the entirety may also be afforded greater protection in bankruptcy than a joint tenancy.
50.
The basic difference between a joint tenancy and a tenancy by the entirety, Schlesinger said, is that with the former, a joint owner's creditors can force a partition of jointly owned property to recover a judgment.
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