Tenants in Common, JTROS,
Just bought your first house? Or are you selling the family home and downsizing now that the kids have moved out? Most people spend a lot of time thinking about where they want to live. Very few spend much time thinking about howthey own the property.
That may not seem important today, but the way your deed is written can have a major impact years from now. In some cases, it can determine whether your loved ones can sell the property easily after your death—or whether they will first need to open a probate estate.
Your Deed Does More Than Show Who Owns the Property
When you purchase a home, you sign many documents. One of the most important is the deed. A deed doesn’t just identify the owners. It also describes how those owners hold title to the property.
The form of ownership can affect:
What happens if one owner dies.
Whether probate may be required.
Who has the right to sell the property.
How ownership transfers to the next generation.
Many homeowners don’t think about these issues until years later.
“Husband and Wife” Doesn’t Always Mean What You Think
One of the most common misunderstandings involves married couples. Many people assume that if a deed lists the owners as “John Smith and Jane Smith, husband and wife,” the surviving spouse automatically becomes the sole owner when one spouse dies.
That is not always true.
The legal effect depends on the language in the deed and the law of the state where the property is located.
Kansas Has a Rule That Surprises Many Homeowners
Kansas does not recognize a special form of ownership simply because two people are married.
In Kansas, a deed that identifies the owners as “husband and wife” does not, by itself, create a right of survivorship. Unless the deed contains language creating a joint tenancy or another recognized method of survivorship, a deceased owner’s interest may become part of that person’s estate and require probate before the property can be sold.
This often surprises families who believed the surviving spouse automatically became the sole owner.
Missouri Is Different
This is especially important in the Kansas City area because many families own property in both Kansas and Missouri. Missouri recognizes forms of ownership that may allow property to pass automatically to a surviving spouse in certain situations.
Because the two states follow different rules, homeowners should never assume that property will be treated the same on both sides of the state line.
The Problem Often Doesn’t Appear Until Closing Day
Many families don’t discover a title problem until they are ready to sell the property. The title company reviews the deed and determines that probate may be necessary before ownership can be transferred.
That can delay the sale, increase costs, and create unexpected stress for the family.
The good news is that these issues can often be identified long before a “For Sale” sign ever goes in the yard.
A Simple Review Today May Prevent Problems Tomorrow
Whether you are buying your first home, purchasing a retirement home, or updating your estate plan, it’s worth understanding exactly how your real estate is titled.
A simple review of your deed today may help your family avoid delays, unexpected expenses, and probate issues years down the road.
Final Thoughts
For most families, a home is their largest asset.
Knowing how you own that home is just as important as knowing where it is located. Taking the time to understand your deed now may save your loved ones significant time, expense, and frustration in the future.
This article is intended for general educational purposes only and should not be considered legal advice. Real estate ownership and probate laws vary by state, and every situation is different. If you have questions about how your property is titled or whether probate may be required, consult a qualified attorney licensed in your jurisdiction.