Question from shelly, What is the Statute Number for Tennessee Laws on Rights of Survivorship in Joint Tenancy?
Answer from AI:
In the state of Tennessee, the laws regarding rights of survivorship in joint tenancy are primarily found in the Tennessee Code Annotated (T.C.A.). Specifically, these laws are detailed under Title 66, Chapter 1, Section 66-1-107.
Understanding Joint Tenancy with Rights of Survivorship
Joint tenancy with rights of survivorship is a form of property co-ownership where two or more individuals hold an equal share of the property. Upon the death of one joint tenant, their share automatically passes to the surviving joint tenant(s), rather than being distributed through the deceased’s estate.
Key Provisions in Tennessee Code Annotated
The relevant statute, T.C.A. § 66-1-107, outlines the creation and implications of joint tenancy with rights of survivorship in Tennessee. Here are some key points:
- Creation of Joint Tenancy: The statute specifies that for a joint tenancy with rights of survivorship to be valid, the intention must be clearly stated in the deed or other legal document creating the joint tenancy.
- Survivorship Rights: Upon the death of one joint tenant, their interest in the property automatically transfers to the surviving joint tenant(s) without the need for probate.
- Severance of Joint Tenancy: Joint tenancy can be severed if one of the joint tenants sells or transfers their interest, converting the joint tenancy into a tenancy in common.
Steps to Establish Joint Tenancy with Rights of Survivorship
To establish a joint tenancy with rights of survivorship in Tennessee, follow these general steps:
- Draft a Deed: Prepare a deed that clearly states the intention to create a joint tenancy with rights of survivorship.
- Include Specific Language: Use specific language such as “as joint tenants with rights of survivorship” to avoid any ambiguity.
- Record the Deed: File the deed with the appropriate county register of deeds to make it official.
When to Seek Legal Advice
While the basic principles of joint tenancy with rights of survivorship are straightforward, the legal implications can be complex. It is advisable to consult with a legal professional if you:
- Have questions about the specific language to use in the deed.
- Need to understand the tax implications of joint tenancy.
- Are dealing with a large or complex estate.
For personalized advice, always consult with a qualified attorney who can provide guidance based on your specific circumstances.
Additional Resources
For more detailed information, you can refer to the [Tennessee Code Annotated](https://advance.lexis.com/container?config=00JAAzY5M2Y5Yy0xYjY2LTQ0YjgtYjY5Zi1hYjY2YjY2YjY2YjY2&crid=1b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b2b
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