Can I sell my share of joint tenancy on a home?
Yes. If you own property in joint tenancy, then you may sell your share to anyone you choose. The other owner can’t stop you, even if the other owner objects.
However, you may only sell your share; the other owner will still hold his share. The other owner will then hold the property along with the new owner, not in joint tenancy, but as a tenant in common.
Tenancy in common is different from joint tenancy. In joint tenancy, the survivor inherits the deceased owner’s share. But, in tenancy in common, when one owner dies, the deceased owner’s heirs inherit his share. The heirs typically have to go to probate court in order to claim their inheritance. For further information, read my earlier post, “The Differences Between Joint Tenants with Survivorship and Tenants in Common.”
Need Help? Contact an Experienced Lawyer
If you need help selling your share of joint tenancy or transferring ownership of property in tenancy in common, contact Persaud Law Office. We’ll help you through the process.