Re: Ownership

The deed will overwrite the will. Joint Ownership w/ the right of survivorship means that the survivor will get legal ownership of the whole property when the owner dies. Tenants in common, means that the person can will,sell or give his ownership rights to a third party.

Re: Ownership

Joint ownership with right of survivorship means that upon the death of one owner, the other automatically owns the property. The property is never part of the estate of the first to die. This means that the surviving co-owner will own the property, not anyone to whom the property was given in a will.

Tenants in common own the property together, but each can give, sell or provide for what happens to his or her interest in a will. Creditors of any owner of tenants in common property also can attach liens to the property.

If you have a particular question about how to take title or give title, you should consult with a real estate lawyer in your county. Your local county bar association may be able to refer you to several attorneys with the practice area.

Re: Ownership

Tenants in Common is where two people own a property, however their interests in property is severable. This means that if one passes away the other does not get the property automatically. His heirs would be entitled to it unless it was granted in a will to someone else. Tenants with right of suvivorship means that if one owner dies the other has a right to survivorship and gets the entire interest.

The rest of your question... whether it effects a will depends on the will and the situation and would be something I would have to look into further to answer.