At Lovelace Law, we often run into scenarios where a married couple, family members, or even friends and business partners want to ensure that the property that they own together — specifically real property or real estate — passes in whole to the survivor of the first of them to pass away. Simply put, if two people own real property together, each wants the other to receive their interest when they pass away in order to keep the property solely between the two owners.
Often, clients want this transaction to happen as seamlessly as possible in order to avoid the need to go through the probate process to convey the property interest. In order to do this, it is important to understand what options are available to make this happen as well as the practical effects of these options.
Below, our survivorship agreements lawyers weigh in:
