I bought a property by myself 4 years ago. Now I want to make a joint tenancy with my brother. Would CA law bar this move?

Asked over 1 year ago - Thousand Oaks, CA

I own a 100% interest in an investment property that I bought 4 yrs ago. I want to make a joint tenancy with my brother. I heard that if we did not acquire our interests at the same time, which we have not, then we cannot form a joint tenancy. Is this true?

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  1. 6

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    Answered . You can deed the property to the both of you and create a joint tenancy, which requires the "unities" of time, title, interest and possession. You don't indicate whether you are selling or gifting the interest. There may be an increase in the secured property taxes if you are selling the interest and the value of the one-half interest being transferred is greater than it was at the time you acquired the property.

    This answer does not constitue legal advice, nor does it creat an attorney/client relationship. If you are... more
  2. 2

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    Answered . In Texas you can deed all of your interest to both of you as JTWROS. I bet it is the same in California.

    Actively practicing law in Texas. Inactive licenses in Arizona and Georgia. All answers are general in nature... more

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