Joint Tenancy with Right of Survivorship

[incognito100]

PA

If three siblings own a property (land) in Joint Tenancy with RS, can one of the siblings transfer their share of the property to someone else without either of the other two knowing.

 

[Zigner]

PA

If three siblings own a property (land) in Joint Tenancy with RS, can one of the siblings transfer their share of the property to someone else without either of the other two knowing.

One does not own a "share" of the property when held as JTWROS.

 

[incognito100]

You'll have to forgive me on the improper terminology.

Does that mean they all act as 1, then?

The research I've done says about a quit claim deed for joint tenancy where it makes it sound like they can transfer their right (it says share) to the property at their wish, without the agreement of the other parties on the initial deed.

 

[Zigner]

You'll have to forgive me on the improper terminology.

Does that mean they all act as 1, then?

The research I've done says about a quit claim deed for joint tenancy where it makes it sound like they can transfer their right (it says share) to the property.

Read up on the meaning of Joint Tenancy With Right of Survivorship, then come back with questions.

 

[incognito100]

Read up on the meaning of Joint Tenancy With Right of Survivorship, then come back with questions.

I promise you, I have. I've read more than 6 articles and am just getting more confused.

I do my own research and don't just post every question I have on the internet.

 

[Taxing Matters]

If three siblings own a property (land) in Joint Tenancy with RS, can one of the siblings transfer their share of the property to someone else without either of the other two knowing.

Yes.

 

[incognito100]

Yes.

Thank you! That was what I thought (unfortunately).

 

[FlyingRon]

Yes, you break the joint tenancy by deeding away your interest. It switches to tenancy in common.

 

[Taxing Matters]

Yes, you break the joint tenancy by deeding away your interest. It switches to tenancy in common.

For the sake of clarification, it does break joint tenancy for the interest that is sold. However, the original two owners that were part of the JTWROS title would, as between the two of them, still hold title as JTWROS. But now the two of them share title with the new third person as tenants in common.

 

[Zigner]

For the sake of clarification, it does break joint tenancy for the interest that is sold. However, the original two owners that were part of the JTWROS title would, as between the two of them, still hold title as JTWROS. But now the two of them share title with the new third person as tenants in common.

And you said that this could be done without the knowledge of the other parties on title?

 

[FlyingRon]

And you said that this could be done without the knowledge of the other parties on title?

Absolutely. If it were tenancy by the entirety, then it would take acquiescence of the other party. However, this is limited to spouses. The original poster said three siblings, and even in Pennsylvania they're not allowed to marry each other.

 

[Taxing Matters]

And you said that this could be done without the knowledge of the other parties on title?

Yes. The consent of the other owners is not required for the one owner to sell his/her interest to someone else. As their consent is not needed, there is no requirement to inform them. The sale does not, after all, affect the interests of the other two owners. They still own exactly what they had before. The other two owners could find out about it, of course, by checking the deed records. But they need not be informed prior to the sale.