Disposing of property can be a daunting prospect for any owner because of the many legal hurdles. One potential stumbling block concerns severing one or more concurrent owners from a piece of property while maintaining your own interest. The process can appear even more baffling because of the many different types of joint property ownership. Thankfully, no matter the type of joint ownership, all that is required to remove a person from a joint tenancy arrangement is a deed.
Prepare a quit claim or warranty deed. Severing a joint tenancy requires the preparation of a new deed for all parties to sign. Every joint tenant that shares ownership of the property should be identified on the deed as a grantor. If any remaining tenant wishes to continue owning the property as joint tenants, then the deed should name them as grantees and contain language specifying how they wish to own the property.
Execute the deed. Each current grantor, at the very least, must sign the deed. Many counties require additional signatures, such as those of witnesses or a notary. Be sure to familiarize yourself with your county's statutes to ensure that your deed will be accepted.
Record the deed. Recording the new deed with the county provides notice to other people that the former owner that you have removed from the deed no longer has the right to dispose of the property. If you fail to record the deed then, in some jurisdictions, a subsequent owner without notice of the unrecorded deed may end up with rights to your property.
Be prepared to pay any applicable recording fees or transfer taxes when you have the deed recorded.
- Be prepared to pay any applicable recording fees or transfer taxes when you have the deed recorded.
Jerome Evans obtained a dual degree in international affairs and modern language from the Georgia Institute of Technology and earned a Juris Doctorate from the University of Georgia School of Law.