43 CFR 30.501 – When is joint tenancy presumed?
Current as of: 2024 | Check for updates
|
Other versions
A judge will presume that a testator intended to devise interests in joint tenancy when:
Terms Used In 43 CFR 30.501
- Devise: To gift property by will.
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Testator: A male person who leaves a will at death.
(a) A testator devises trust or restricted interests in the same parcel of land to more than one person; and
(b) The will does not contain clear and express language stating that the devisees receive the interests as tenants in common.