Question by Becky Van Hoosen:
My mother passed away in January 1999. My husband and I jointly owned a duplex with her. The warranty deed lists our names as first my husbands, then mine, then my mothers. What wording would I look for to know if we were joint owners, or tenants in common.
If we are joint owners, does this property automatically become ours? If we are tenants in common, are my siblings entitled to her 1/3 of the property? I realize that being in Oregon, we may have different laws. The lawyer I have seen, really isn't helping much, and I would love some insight from you.
Answer By William Bronchick:
If the words "jointly" or "joint tenants" or "right of survivorship" appear, the ownership is in joint tenancy. In this case, the surviving joint tenants automatically own your mother's interest. By default, ownership is presumed tenants in common, which means your mother's interest would pass through the directions of their will. If she died without a will (called "intestate"), her interest would be passed to her heirs according to the formula dictated by your state's law. Most likely, that would be you and your siblings.
Disclaimer: The foregoing is not intended to be given as legal, financial or tax advice, but intended for instructional use only. If you require legal, financial or tax advice you should seek the assistance of a qualified professional.
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