I own a ranch with substantial acreage in New Mexico with my mother. We are listed as Joint Tenants on the deed. The deed does NOT say "...as joint tenants with right of survivorship." It merely says "...as joint tenants."
My mother has remarried since she and I took ownership of the property. New Mexico is a community property state.
So my questions are:
1.) Do I need to change the deed to include "with right of survivorship," or is that already implied in the wording "joint tenants?" I'm looking to avoid the probate mess and have an easier time with the property title transference when my mom passes on.
2.) What exactly is the property ownership scenario as it stands with my mother being married again? Do I own 50%, she own 25% and her new husband 25%? Is it that clear-cut?
3.) What does my mother now have to do to make sure that when she passes on I have total ownership of the property? Is her husband now going to have to choose to leave me "his" portion?
Thanks for any advice!
My mother has remarried since she and I took ownership of the property. New Mexico is a community property state.
So my questions are:
1.) Do I need to change the deed to include "with right of survivorship," or is that already implied in the wording "joint tenants?" I'm looking to avoid the probate mess and have an easier time with the property title transference when my mom passes on.
2.) What exactly is the property ownership scenario as it stands with my mother being married again? Do I own 50%, she own 25% and her new husband 25%? Is it that clear-cut?
3.) What does my mother now have to do to make sure that when she passes on I have total ownership of the property? Is her husband now going to have to choose to leave me "his" portion?
Thanks for any advice!
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