the real/estate blog

Cutting ties

Posted in Real Estate by Cesia Green on May 3, 2013
Tags: , , ,

What happens when you own a property jointly with someone, and don’t want to share any more?

Your kindergarten teacher probably wouldn’t be happy, but technically, you can sever a joint tenancy without any notice to the other person. Basically, you do a transfer from yourself to yourself, with a statement that it is being done to sever the joint tenancy. The other person won’t find out unless they decide to look. Possibly not the best surprise to leave someone, but sometimes it is important to make sure that your share goes where you want it to go.


One Response to 'Cutting ties'

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  1. This is especially useful when dealing with parties who are in the midst of a separation. One thing to look at is whether or not the mortgage on the property has any specific instructions that title is to be held as joint tenants, as you may need consent from the lender to avoid breaching your mortgage.

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