[WSBARP] Misgivings about JTWROS

[Eric Nelsen]

Maybe you're thinking of continuity of title insurance? A quitclaim from X, who is insured, to Y, means that Y is not insured. But if X does a warranty or B&S deed, then Y still isn't insured, but if there is a title defect Y can sue X and X can tender the claim to title insurance.

But a QCD merely to establish JTWROS I don't think is a problem. But it's really an estate planning decision on whether or not to do that. They should talk to an estate planning lawyer to figure out if that's the right move with regard to the house; needs to be evaluated about separate versus community interests, estate planning goals, taxable estate issues, etc.

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

Please Note that We Have Moved. We have moved our Seattle office to Mount Baker Ridge (a small commercial community just above the I-90 tunnel). Our new address is 1417 31st Avenue South, Seattle WA 98144. All other contact information remains the same.

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>

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