Rockville, Bethesda and Gaithersburg real estate and homes for sale in Maryland - Paul Butterfield, REALTORS® Paul Butterfield REALTORS(r) for Rockville, Bethesda and Gaithersburg, Maryland real estate - NUMBER1EXPERTS™ Paul Butterfield NUMBER1EXPERTS(tm) for Rockville, Bethesda and Gaithersburg, Maryland real estate

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Paul Butterfield, REALTOR®, real estate agents and broker for Rockville, Bethesda and Gaithersburg Maryland home listings, property and land for sale - NUMBER1EXPERT(tm)







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Real Estate Tips
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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Real Estate Trivia
Q 
What 70-room East Coast mansion was built as a summer home and is known as a "Gilded Age cottage"?

A 
Cornelius Vanderbilt's "Breakers" Mansion in Newport, Rhode Island, named for the waves crashing along the cliff that separates the property from the ocean.
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Paul Butterfield, REALTOR®, real estate agents and broker for Rockville, Bethesda and Gaithersburg Maryland home listings, property and land for sale - NUMBER1EXPERT(tm)

Paul Butterfield
RE/MAX Realty Services

4825 Bethesda Ave, Suite 200
Bethesda, MD. 20814
301.538.5503
Fax: 240-206-3259
Email: Paul@PaulButterfield.com

Paul Butterfield, GRI, e-PRO, Top Producer, 3rd generation Realtor, licensed 14 years in MD and DC. RE/MAX Realty Services is owned and operated by the Butterfield family. In 2002 we listed and sold over 800 homes worth over 225 million. Why not work with the best?

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