858.792.5988

Serving San Diego for over 35 Years

Clients, Colleagues, and Friends,

I retired on Dec. 31, 2019, and officially closed my office, after 42 years of practicing law. I thank you all for your confidence in me and your friendship over the years. My colleague David Dufek who has shared the suite with me for the past two years is taking over my practice and will have all client files. Not only will David be taking over the practice, he remains in the suite and is taking over my fax and phone lines. You are free to leave your files with David or pick them up. David's practice like mine includes will, trusts, and probate, as well as personal injury work. He also does landlord - tenant work and debtor - creditor matters including bankruptcy.

I wish you all the best.

Alex

What is the Difference in Joint Tenancy and Tenants in Common?

The designation of joint tenancy or tenants in common is generally related to real estate matters. This designation deals with how the real property is titled. Joint tenancy gives the right of survivorship. This means that if one party dies, the property or bank account is automatically considered to belong to the surviving partner. Joint tenancy provides equal and unlimited access to the property in question to both parties. Joint tenancy does not require that each person named on the title contribute equally to the upkeep. Owners can choose to share in the benefits of the property without equally sharing expenses. Joint tenancy is generally used in the case of married people.

Being tenants in common can lessen the legal hold each person has on the property. A designation of tenants in common can also create issues of legal responsibility. Tenancy in common is beneficial when two or more people buy a piece of real estate but each contributes a different amount of money. In a tenancy in common scenario, each party holds a percentage of interest in the property rather than the 100% unlimited right to access as joint tenants. Tenancy in common should only be chosen if all parties involved have made out valid wills. Each member of a tenancy in common should will their interest in the property to their chosen survivors.

Deciding whether to title property as joint tenancy or tenants in common is a serious issue; if you are unsure, call me with your questions or concerns at (858) 792-5988 or talk to a knowledgeable estate planning attorney in your area.