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"You Performed Superbly"
"I want to take this opportunity to thank you profusely for myself and my family. Mia and I both have friends in real estate who wanted this business. We were interested in finding the most skilled realtor and marketer to assist us with this transaction. You performed superbly and have earned our respect and any future business in the city. We are both confident that we would not have done nearly as well without your diligent work. As this was our first home, I wanted to also thank you for your patience with our endless questions and worrying. We have learned a great deal from this project and the sale seemed to be the easiest part thanks to you."
"Steve & Mia M."
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When two or more individuals own property together, each one owning an equal interest and having equal rights in the property including the rights of survivorship, it is referred to as joint tenancy. Any of the joint tenants may transfer his or her interest in the property to another party, but this dissolves the joint tenancy and creates a tenants-in-common interest with respect to the other parties whose names are on the title.
The most important feature of joint tenancy is the right of survivorship. A joint tenant cannot will his or her interest in the property to others. The surviving joint tenant (or tenants) simply becomes the owner or owners of the property without going through the probate process, which can involve expensive legal fees and may take months to resolve.
It is important to get professional advice when you plan to buy and hold title to real estate with another person.
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| Q |
What three things are necessary in order to purchase a home?
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| A |
Some cash, a dependable income and good credit. If you fall short, don't despair--homeownership may still be possible. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERT™ 
