[WSBAPT] Misgivings about JTWROS

[John J. Sullivan]

Eric:

I'm not saying it is and I recognize the presumption of RCW 64.28.040. But there's no reason why they couldn't overcome that presumption. 

Certainly there's no incompatibility. Maritally owned JTWROS property is going to receive the full step up if is CP. 

John J. Sullivan

John Sullivan

Sent from my iPhone

> On Apr 5, 2017, at 1:01 PM, Eric Nelsen <Eric at sayrelawoffices.com> wrote:
> 
> Huh--but JTWROS property held by husband and wife IS community property, isn't it? RCW 64.28.040. Regardless of the right of survivorship, the property is still presumed to be CP.
>  
> I do think there are some questions about whether ROS is effective if the Grantor is not also one of the Grantees. So "X conveys to X and Y as JTWROS and not as tenants in common" might work, but "X conveys to Y and Z as JTWROS and not as tenants in common" does not, without contemporaneous evidence that Y and Z intended to receive as ROS.
>  
> But I don't understand why JTWROS would be considered incompatible with also being CP.
>  
> Sincerely,
>  
> Eric
>  
> Eric C. Nelsen
> SAYRE LAW OFFICES, PLLC
> 1417 31st Ave South
> Seattle WA  98144-3909
> phone 206-625-0092
> fax 206-625-9040
>  
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> From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Heather deVrieze
> Sent: Wednesday, April 05, 2017 12:23 PM
> To: WSBA Probate & Trust Listserv
> Subject: Re: [WSBAPT] Misgivings about JTWROS
>  
> 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
> <image001.jpg>
> 3909 California Avenue SW
> Seattle, WA 98116-3705                         
> (206)938-5500
> heatherd at westseattlelaw.com
> www.westseattlelaw.com
>  
> Click here to connect with de Vrieze | Carney on Facebook:   <image002.png>
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> 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
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> dculbertson at culbertsonlawoffice.com
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