A Deed is a legal document that shows who owns real estate. It is the official document evidencing title. The deed is recorded at the Register of Deeds office within the county that the real estate is located. Your full legal name should be on the deed. If you own the property with another person, you can hold title to the property in the following way: Both of your legal names followed by the words “joint tenants” or “joint tenancy” or “tenants in common.” Joint tenants or joint tenancy means that upon the death of the first person, the property will revert to ownership of the other person of title without going through the death probate process. Tenants in common means that when one person dies, one-half of the property will fall to the death probate process and go to the deceased person’s legal heirs or pursuant to that person’s Last Will. Married couples in Wisconsin many times hold title to their real estate as “husband and wife as survivorship marital property.” Survivorship marital property is very much like joint tenancy but has a more favorable tax effect. To learn more about your options in holding title to your real estate and estate planning options in general, contact us (800) 431-9776 to schedule your Free consultation today.
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