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-   -   tenants in common (https://www.ottawadivorce.com/forum/showthread.php?t=1857)

littleman 11-22-2006 04:21 PM

tenants in common
 
I have a question in regards to teneants in common........I understand that this is legal form to protect my investment in joint ownership in a home........also protects my child if something should happen to me.......can this at anytime be revoked or changed if circumstances change......

logicalvelocity 11-22-2006 06:32 PM

littleman,

If the joint tenant's in common are on agreement ie: one tenant wants to buy out the other tenant, then yes it could be amended and tile to the property could be transferred on both parties consent

If one party desires to sell the property they will need the other owners consent even to to list the property with a Realtor.

If one parties dies, then their share of the property would be under the care of control of their estate and hopefully they have a last will and testament that directs what is to be done with the property. With no Last Will in place the province steps in and I suspect most people would be unhappy with the result.

lv

logicalvelocity 11-22-2006 06:48 PM

littelman,

Interesting Act to read

If one of the parties were to become absent, see the following

Absentees Act - R.S.O. 1990, Chapter A.3

http://www.e-laws.gov.on.ca/DBLaws/S...sh/90a03_e.htm

and read this Land Titles Act - R.S.O. 1990, CHAPTER L.5

Part VI section 60


http://www.e-laws.gov.on.ca/DBLaws/S...l05_e.htm#BK73

lv


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