Buyers now have a NEW CHOICE when it comes to how they want to take title! This new law became effective July 1, 2008 and is called “with right of survivorship.”
The main benefit of adding “with right of survivorship” after husband and wife, is that upon the death of either spouse, title to the real property held jointly will immediately transfer over to the surviving spouse upon recordation of a certified copy of the death certificate. This will save time, trouble, and money.
Any husbands and wives who acquired title prior to July 1, 2008 can accomplish the same goal by creating a new deed to themselves and adding “with right of survivorship” after husband and wife. Then recording the deed.
For more particulars and the service to perform, call Tracy Schwartz at First American Title Company, 375-0700.