What is a survivorship deed?


A survivorship deed is a legal document that conveys a real estate title into the names of two or more joint tenants.

Upon the death of one of the tenants, the title for the property will automatically be transferred to the other party or parties on the deed. This type of deed is commonly employed when, for example, a couple purchases property together. If one partner dies, ownership of the property will automatically be transferred to the survivor. If the relationship changes before either of the partners die, as in the case of divorce, the deed can be redrawn, but will require the consent of both parties.
Q&A Related to "What is a survivorship deed?"
Basically a survivorship deed provides that upon the death of the co-owner, their interest passes automatically to the survivor bypassing probate.
The Ohio General Assembly sets County Recorder fees, making them uniform statewide. As of October 2010, each of Ohio's 88 County Recorders charges a fee of $28.00 for the first page
Short answer/typical usage: Used when a husband and wife purchase a house together. When the first spouse dies, the other becomes 100% owner of the property without having to go through
Sharon, Joint survivorship on a deed means that title to the property is in two or more persons’ names, both or all with equal ownership. If one dies, that percentage of ownership
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014 Ask.com