The probate court would not be involved in the transfer. This can sound like a turnkey arrangement, but you have to understand the fact that the person that you add to your title as a joint tenant would own half of the property immediately. As a result, the joint tenant would have to sign off on the sale if you wanted to liquidate the property. Plus, the property could be attached if the joint tenant was to run into legal or financial difficulties.
Topics covered in this report include:
- Payable on Death Accounts
- Life Insurance Proceeds
- Property Held in Joint Tenancy
- Revocable Living Trusts
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