West Virginia Code 36-1-20a – Elimination of need for straw party in creating joint tenancy with right of survivorship
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Any conveyance or transfer of property, or any interest therein, creating a joint tenancy with right of survivorship together with the person or persons conveying or transferring such property, executed by such person or persons to or in favor of another shall be valid to the same extent as a similar transfer or conveyance from a third party or by a straw party deed.
Terms Used In West Virginia Code 36-1-20a
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.