Full question:
If I as a single person take title to a property with me and my son on the deed would it transfer to him if I were to die. Would it have to go through probate? I live in Ky. This is for my sister in Texas.
- Category: Real Property
- Subcategory: Deeds
- Date:
- State: Texas
Answer:
If you take title to a property with your son as a joint tenant with right of survivorship, the property will automatically transfer to him upon your death, avoiding probate. However, if you hold the property as tenants in common, your son would not inherit the property automatically. Instead, your share would go through probate and be distributed according to your will or state intestacy laws if there is no will.
Joint tenancy allows for immediate transfer of ownership to the surviving tenant upon death, while tenancy in common does not include this right of survivorship. In the latter case, the deceased's share must go through court-supervised probate to be transferred to heirs.
It's important to consider the implications of joint tenancy, including tax consequences and the inability to will your share to someone else. Consulting with a legal expert in Kentucky can provide tailored advice for your situation.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.