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What are the risks involved in joint tenancy titles?

Updated: 8/17/2019
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14y ago

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There are no risks in owning land in a joint tenancy with the right of survivorship. It is a tenancy that is chosen by co-owners who want the title to remain between them if one should die. When one dies the other automatically becomes the sole owner.

If the relationship changes the tenancy can be easily broken and converted to a tenancy in common whereby the interest of a co-owner would pass to her estate and to her heirs-at-law upon her death. That conversion should be done with the help of an attorney who specializes in real estate law. One joint tenant can sell their interest in the property and that conveyance would convert the tenancy to a tenancy in common.

One joint tenant can force the sale of the property by a Petition to Partition. The court would appoint a commissioner to sell the property and the net proceeds would be divided after the payment of legal costs and the costs associated with the sale.

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