Alan Cohen, REALTORŽ, real estate agent and broker for Brookline, Newton and Chestnut Hill Massachusetts home listings, property and land for sale - NUMBER1EXPERT(tm)

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Titles >Joint Tenancy

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 is a "jumbo mortgage"?
A	The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates.
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Alan Cohen
Hammond Residential GMAC
826 Boylston Street
Chestnut Hill, MA 02467
Voice-Line: 617-796-6166
Office Line: 617-731-4644 ext 302
E-Fax: 617-796-6166
Email: alancohen@rcn.com
Among the area's most prolific and practiced realtors, Alan is also a historic homes marketing specialist. His keen communication, negotiation and visual skills have been refined by many years in real estate and prior experience as a clinical social worker and Children's Museum exhibition developer. During his prior 15-year tenure with Coldwell Banker, Alan was consistently honored among the top 1% of 53,000 national associates. Valued for his market knowledge, attentiveness and reliable counsel, Alan's reputation for dilligence has earned him a strong following among former clients and other real estate professionals who entrust him with their referrals.

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