QUESTION
Pennsylvania property deed, Tenants in Common vs. Joint Tenancy?
Asked on Dec 08th, 2015 on Real Estate - Pennsylvania
More details to this question:
Family cabin in PA. My father and I bought shares from other family members. I own 75 percent and he owns 25 percent. We did a new deed calling ourselves "joint tenants with right of survivorship". Dad has passed away. I was going to have a new deed filed showing his death certificate stating I now own 100 percent. With a little research I found that you cannot be "joint tenants" and own unequal shares, therefore "right of survivorship" does not apply. Our real relationship was "tenants in common" because of the 75/25 and therefore not subject to "right of survivorship". Mom received all Dad's assets in will. She is willing to sign over the 25 percent if she is now the owner of it. Do I file a new deed explaining our true relationship? How can I straighten this out with minimal cost and paperwork? Thank you.
2 ANSWERS
Business Law Attorney serving Pittsburgh, PA
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Fiffik Law Group, P.C.
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I don't think there's an issue here of your current ownership of the property via the deed. It may only be a question of the interest in the property that you received by survivorship and the amount of inheritance tax that you owe on the transfer. Best bet is to retain counsel to assist with this issue. It's not a "do it yourself" matter.
Answered on Dec 08th, 2015 at 8:18 AM
Elder Law Attorney serving Butler, PA
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Dorothy J. Petrancosta
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Respectfully I would disagree. File the Death Certificate with the Register of Wills and clear inheritance tax to ensure clear title.
Answered on Dec 08th, 2015 at 5:25 AM