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Joint Tenants With Rights Of Survivorship In Georgia: 4 Important Requirements

Joint Tenants With Rights Of Survivorship In Georgia

Joint Tenants with Rights of Survivorship in Georgia allows you to: 

  • skip probate
  • transfer ownership automatically
  • protect the property from creditors

Keep reading to learn about the requirements you HAVE to follow. 

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What Is JTWROS?

Joint Tenants with Rights of Survivorship (JTWROS) means two or more people equally own a property. 

When one owner dies, their share automatically goes to the surviving owners, avoiding probate in Georgia.

Key Characteristics of JTWROS

  • Equal Ownership: All joint tenants have an equal share of the property. This means if there are two joint tenants, each owns 50%. If there are three, each owns one-third, and so on. 
  • Right of Survivorship: The right of survivorship means that, upon the death of one joint tenant, their interest in the property is immediately transferred to the surviving joint tenant(s). 

This process is automatic and does not require probate.

This will reduce your overall cost of probate.

Creating A Joint Tenants With Rights Of Survivorship In Georgia

Let’s look at the legal requirements and how to create Joint Tenants With Rights Of Survivorship In Georgia. 

Legal Requirements

To create Joint Tenants With Rights Of Survivorship in Georgia, the following legal requirements must be met:

  • Unity of Time: All joint tenants must acquire their interest in the property at the same time.
  • Unity of Title: All joint tenants must acquire their interest through the same transaction or instrument, such as a quitclaim deed.
  • Unity of Interest: Each joint tenant must have an equal interest in the property.
  • Unity of Possession: All joint tenants must have an equal right to possess and use the entire property.

How To Create A JTWROS

  1. Identify the property to be held as JTWROS.
  2. Draft a deed or ownership document with explicit JTWROS language.
  3. Meet the legal requirements of unity of time, title, interest, and possession.
  4. Sign the document before a notary public.
  5. Record the deed with the county recorder’s office (for real estate).
  6. Update titles and records to reflect the joint tenancy.

Example Clause For JTWROS

Joint Tenants with Rights of Survivorship is not a document type. 

It’s a clause that you include in the title of the property.

The creation of a JTWROS must be clearly stated in the deed. 

Here is an example clause:

“This property is conveyed to John Doe and Jane Smith, as joint tenants with rights of survivorship and not as tenants in common.”

Advantages and Disadvantages

Some advantages of them are: 

  • Avoidance of Probate: JTWROS skips the probate process and passes directly to the surviving joint tenant(s).
  • Simplified Transfer of Ownership: The transfer is simple; you just need to provide a death certificate to update the property’s title.
  • Protection from Creditors: JTWROS can offer protection from creditors since the deceased’s interest in the property automatically transfers to the surviving joint tenant(s).

Some disadvantages of them are: 

  • Lack of Individual Control: Joint tenants cannot independently sell or mortgage their share of the property without the consent of the other joint tenants.
  • Potential for Conflict: Disagreements among joint tenants can lead to conflicts. Particularly when it comes to decisions about selling or making changes to the property.
  • Estate Tax Implications: While JTWROS avoids probate, it does not avoid federal estate taxes. The value of the deceased’s share of the property is included in their estate for tax purposes.

How To Terminate JTWROS

It’s common for there to be disputes with joint ownership of property. 

When this occurs, this is how you terminate the JTWROS:

  • Mutual Agreement: Joint tenants can mutually agree to terminate a JTWROS by transferring the property to themselves as tenants in common. With this, each tenant owns a specific share of the property.
  • Sale of the Property: The sale of the property to a third party will terminate the JTWROS. The proceeds from the sale are then divided equally among the joint tenants.
  • Partition Action: If joint tenants cannot agree on the disposition of the property, they may file a partition action in court. The court can order the property to be sold and the proceeds divided among the joint tenants.

Common Questions

The common questions we get about joint tenants with rights of survivorship in Georgia are:

Can a JTWROS be created after the initial purchase of the property?

Yes, property owners can convert an existing tenancy in common to a JTWROS. 

You’ll create a new deed stating the intent to hold the property in JTWROS.

What happens if a joint tenant wants to sell their interest?

A joint tenant can sell their interest, but this will convert the JTWROS into a tenancy in common for the new co-owners. 

The right of survivorship will no longer apply.

Are there any special considerations for married couples?

Married couples in Georgia often use JTWROS for their primary residence. 

It simplifies the transfer of property upon the death of one spouse to the surviving spouse.

Get Help From A Lawyer Lawyer

Our Georgia probate lawyers can help you: 

  • create a JTWROS deed
  • settle disputes with the joint ownership
  • restructure the joint ownership
  • probate the property

Fill out the form to get started today.

Get Your Free Probate Petition

Probate can be confusing and stressful. Incorrectly filled-out probate petitions can cause delays, rejections, and added stress. We will fill out your petition for you (for FREE).

Fill out the form to have us fill out your petition for you (at no charge). We can only offer 5 free petitions per week, so act fast to secure your spot and avoid the hassle of probate.

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Name*

What Areas We Serve For Probate

Our Georgia probate lawyers work remotely, so you don’t have to visit an office. Here are all the counties we serve in Georgia. 

Gwinnett County
Fulton County
Cobb County
DeKalb County