Multiple Owners of Real Estate – Deed Language Matters

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

By R. Kurtz (Kurt) Holloway with Sarah Stone originally posted on our website

 

In Pennsylvania, there are three ways that multiple people can own real property at the same time: 1) Tenancy in Common, 2) Joint Tenancy with the Right of Survivorship (Joint Tenancy), and 3) Tenancy by the Entireties. In order to create these joint ownerships, the deed must contain the proper wording. For example, when property is conveyed to two or more people (who are not married), the law presumes that the property is held as tenants in common unless the deed clearly states otherwise. If the property is to be owned as joint tenants, then the deed must clearly express that there is a right of survivorship. Additionally, in Pennsylvania, when property is conveyed to a married couple it is presumed to be owned as tenants by the entireties unless there is clear and convincing evidence to the contrary. See why this matter.

 

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