When you co-own realty, the way you hold title controls what occurs at death-often more than your will. This short article walks you through the legal and practical differences in between occupants in common (TIC) and joint occupancy with right of survivorship (JTWROS), what to anticipate when one owner passes away, and how to plan with confidence. Contact us by either using the online form or calling us directly at 414-253-8500 for legal support.
Why Title Matters More Than Most People Realize
Realty does not immediately follow the instructions in a will. Instead, the deed's vesting language-how the owners are listed-can send out the residential or commercial property on extremely various paths at death. Simply put:
- Joint Tenancy (JTWROS): the departed owner's share typically passes automatically to the enduring joint owner(s).
- Tenants in Common (TIC): the departed owner's share does not pass to co-owners immediately
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Tenants in Common Vs. Joint Tenancy: what Happens when One Owner Dies
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