For a Transfer on Death Deed, are the terms “co-owners” and “joint owners” different?
On a TOD document if married do we list both names on the document? We're married and joint owners not co-owners.
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Here is a summary of our phone call:
- What we covered:
- You were confused about the terms "co-owners" and "joint owners" on a Transfer on Death (TOD) document.
- It was clarified that "co-owners" can be used interchangeably with "joint owners" in this context.
- You wanted to ensure both your names appear as owners on the TOD document.
- It was explained that joint ownership means both own 100% of the property, unlike tenants in common.
- Next Steps:
- It was recommended to list both your names as co-owners on the TOD document.
- Both you and your spouse should sign the spouse section for clarity.
- Include your son as the beneficiary to simplify the transfer process.
- Consider consulting the county clerk to ensure the document is correctly filled out.
Let me know if anything changes or if more questions come up - Legal Eagle
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On a TOD document if married do we list both names on the document? We're married and joint owners not co-owners.
Lexi, Chatbot
Are you specifically asking about listing both spouses' names on the TOD document, or are you inquiring about something else related to marital status?
Yes wanting to list both spouses names on TOD document as we are joint owners.
Lexi, Chatbot
Is there anything else the Lawyer should know before I connect you? Rest assured they'll be able to help with listing both spouses' names on the TOD document.
We are confused with co-owners and joint owners filling out the document.
Legal Eagle
Hello! Legal Eagle here, and I am an attorney specializing in your area of law. I am more than happy to help you with your situation! Do both of you currently own the property?
Yes
Legal Eagle
Here is a summary of our phone call:
- What we covered:
- You were confused about the terms "co-owners" and "joint owners" on a Transfer on Death (TOD) document.
- It was clarified that "co-owners" can be used interchangeably with "joint owners" in this context.
- You wanted to ensure both your names appear as owners on the TOD document.
- It was explained that joint ownership means both own 100% of the property, unlike tenants in common.
- Next Steps:
- It was recommended to list both your names as co-owners on the TOD document.
- Both you and your spouse should sign the spouse section for clarity.
- Include your son as the beneficiary to simplify the transfer process.
- Consider consulting the county clerk to ensure the document is correctly filled out.
Let me know if anything changes or if more questions come up - Legal Eagle
Legal Eagle
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