If you are a property owner, you should be well aware of the type of ownership you have and consult your estate planner regarding the best ways to protect your estate’s rights to the full value of your property.

Many people own property without truly understanding how they hold title to it – or the ramifications of the title that they hold. Not fully understanding your property ownership can have some dire consequences for your estate. As a lesson take a recent case out of Greenwich, CT, featured in an article here, and the dangers of tenants-in-common. Owning property with someone else is fairly common, and understanding how you own it is an important aspect of your estate planning. If you own property with someone else as tenants-in-common, when one of the tenants dies, their ownership interest passes on…

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