Isi Wu's Blog

I’m sure we all want to think that once married we’ll live happily ever after… Life sometimes doesnt work out the way you intend… things happen… just wanted to pass along the following article for you to think about….

(Article By Real Estate Attorney & Syndicated Columnist Bob Bruss)

 DEAR BOB: My mother, now divorced, owned a house with her former husband. But before the divorce papers were finalized, without my mother’s knowledge he changed his title to the house from joint tenancy with right of survivorship to tenants in common. He passed away recently. Now his nephew is claiming the house under his will. My mother is still on the title and loan papers. Can a joint tenancy title be changed without permission of the other joint tenant, and is my mother entitled to all or half of the property? –Leslie LeB.

DEAR LESLIE: For simplicity, I presume the house is not in a state allowing a married couple to hold title as tenants by the entireties (a special form of joint tenancy that cannot be terminated by one spouse alone). If the divorce settlement papers didn’t specify what was to happen to the house title after the divorce, each still owned half of the house after the divorce.

Unfortunately for your mother, a joint tenant with right of survivorship does not need permission from another joint tenant to change the ownership method to “tenants in common.” Also, her ex-husband could have sold his half-interest in the property or given it away without her permission.

Presuming the ex-husband executed and recorded a valid quitclaim deed from himself as a joint tenant to himself as a tenant in common, that broke up the joint tenancy without notifying your mother. The result is the ex-husband’s half of the house became subject to his will, which apparently left his half of the house to the nephew.

Under the law of virtually every state, your mother still owns her half of the house, but as a tenant in common and not as a joint tenant with right of survivorship. The fact her name is on the mortgage papers is irrelevant to the title.

Perhaps she should offer to buy out the nephew’s inherited half. Or maybe she should ask him to buy her out. Better yet, perhaps they should try to get along as tenant-in-common co-owners. For more details, she should consult a local real estate attorney.

Arm yourselves with information!!.. Knowledge is key to every success… Please pay attention to who you do business with!!…

Like sharks circling blood in the water, con artists have been out in force preying on desparate homeowners with offers to help get their mortgages modified so they can stave off foreclosure ~ for a Fee, sometimes a very big one!!…

Now California Attorney General – Jerry Brown is requiring “foreclosure consultants” to register with his office and post a $100,000 bond by July 1.  The intent is to help consumers avoid the shady characters who don’t deliver.  As the foreclosure crisis has grown, so has the number of desparate people who fall prey to scams.

“This arms California consumers with information so they can determine whether or not the person they’re working with is a fly-by-night operator”, said Scott Gerber for the AG.

Consumers can check out loan modification companies by calling the Attorney General at 800-952.5225.