BUILDING A HOME
"Dear Paula, My husband and I prayed that God would place special people in our lives to ease our transition to Hixson and love us up! You have been an answer to our prayers Mrs. Paula! We are blessed to call you our friend. Thank you for the special interest that you and your husband have shown in us. Your generosity has been overwhelming and unexpected! I know the wonderful ways you are blessing others have stored up the greatest treasures for you in heaven. We will never be able to repay your love and kindness but our prayer is that our friendship will far outlast the building of this home! Love You!"
Lacey and Cesar
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When two or more individuals own property together, each one owning an equal interest and having equal rights in the property including the rights of survivorship, it is referred to as joint tenancy. Any of the joint tenants may transfer his or her interest in the property to another party, but this dissolves the joint tenancy and creates a tenants-in-common interest with respect to the other parties whose names are on the title.
The most important feature of joint tenancy is the right of survivorship. A joint tenant cannot will his or her interest in the property to others. The surviving joint tenant (or tenants) simply becomes the owner or owners of the property without going through the probate process, which can involve expensive legal fees and may take months to resolve.
It is important to get professional advice when you plan to buy and hold title to real estate with another person.
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| Q |
What makes the structure of the Hoover Dam unusual?
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| A |
The Hoover Dam was built to last 2,000 years, and is constructed of concrete that will not be fully cured for another 500 years. |
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