[WSBAPT] Misgivings about JTWROS

[Heather deVrieze]

I have been told by a title examiner at one of our local title companies that they would not honor a JTWROS deed to a married couple unless it clearly stated "as Joint Tenants with Rights of Survivorship, and NOT as Tenants in Common, and NOT as Community Property".

We argued about this a bit, but I believe in the end, and advise most of my clients that absent compelling reason to do otherwise, holding property as husband and wife (i.e. community property) is the best way to own property together. I sure wouldn't want them to lose a step-up in basis because it is held JTWROS and not as CP, so no 100% step.

Heather

Heather S. de Vrieze
Attorney-at-Law
[cid:image001.jpg at 01D013C2.30F35160]
3909 California Avenue SW
Seattle, WA 98116-3705
(206)938-5500
heatherd at westseattlelaw.com<mailto:heatherd at westseattlelaw.com>
www.westseattlelaw.com<http://www.westseattlelaw.com/>

Click here to connect with de Vrieze | Carney on Facebook:   [FB Logo] <https://www.facebook.com/DeVriezeCarney>

CONFIDENTIAL & PRIVILEGED. This e-mail message may contain legally privileged and/or confidential information.  If you have received this e-mail in error, please notify the sender immediately and delete all copies of this e-mail message and any attachment.

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Dave Culbertson
Sent: Wednesday, April 05, 2017 11:27 AM
To: wsbarp at lists.wsbarppt.com; wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Misgivings about JTWROS

Hello, Listmates.

A client asked me if doing a QCD of their home to their wife, with JTWROS language, would cause any issues. Not my main field, so I don't know, and I likely will advise them to go find out from a lawyer who spends more time on those issues. Something is nagging me about the combo of JWTROS and a QCD, but I may simply be mis-remembering something. Any thoughts?






Best Regards,

Dave Culbertson

The Law Office of Davisson Culbertson, PLLC
19909 Ballinger Way NE
Shoreline, WA 98155

Phone: (206) 478-8134
FAX: (866) 867-7796
dculbertson at culbertsonlawoffice.com<mailto:dculbertson at culbertsonlawoffice.com>

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170405/5660c6f4/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 7107 bytes
Desc: image003.jpg
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170405/5660c6f4/image003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 5137 bytes
Desc: image004.png
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170405/5660c6f4/image004.png>