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Topic: Joint ownership

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	Joint tenancy ownership - advantages and pitfalls.
		Joint tenancy ownership of property is convenient and easy to set up, and avoids probate and the difficulties of passing title of property when a joint tenant dies.
		The advantages of joint tenancy and tenancy by the entirety are that it is simple to arrange, and that, at the death of all joint tenants except the last one, title to the jointly-held property passes to the surviving joint tenant without the delay, expense, or legal entanglements and confusion of probate.
		In general, the purchase of property jointly, or the transfer of separate property into joint names, is a gift by one of the co-tenants to the extent that one of the new co-tenants does not provide consideration equal to his or her property interest as defined under local law.
	www.nysscpa.org /cpajournal/old/07133074.htm (4074 words)

	Estate Planning Articles -Forms of Joint Ownership
		There are three basic forms of joint ownership: Tenancy in common; joint tenancy; and tenancy by the entirety.
		From an estate planning perspective, the principal benefit of joint tenancy and tenancy by the entirety is that it is an effective way to pass along ownership at death and avoid probate.
		Joint ownership may offer convenience; for example, an elderly parent may decide to have a child listed as a joint tenant on a checking account so that the child can assist with bill paying.
	www.tartalaw.com /articles/EstatePlanningFormsOfJointOwnership.aspx (520 words)

	Joint Tenancy
		If more than two joint tenants, upon the death of one joint tenant, title to the property passes to the surviving joint tenants by operation of law who hold title to the property in equal undivided shares to the exclusions of the heirs and creditors of the deceased joint tenant.
		Joint tenancy ownership cannot be disposed of by testamentary disposition and it does not pass to the heirs of the decedent by intestate succession.
		Mortgage or deed of trust executed by one joint tenant or a judgment lien against interest of one joint tenant, does not sever joint tenancy or affect right of survivorship unless property is sold by foreclosure or execution sale prior to death of the party who incurred the lien.
	www.garryloss.com /Links/Title/Joint_Tenancy.htm (288 words)

	Joint Ownership (Site not responding. Last check: 2007-10-31)
		Joint ownership (or to use the technical term, joint tenancy) of real property affords the best protection in the event of death.
		Joint tenancy with the right of survivorship will also give the deceased's personal property to the survivor.
		Particular care should be taken in creating joint ownership of land, since special technical requirements of wording must be met.
	www.ncgala.org /guide/guidejtowner.htm (440 words)

	Joint Ownership - Kent A. Jeffirs, Attorney at Law, Crown Point, Indiana
		Joint ownership is where two or more people hold title to property together.
		Unlike some forms of joint ownership, when you hold assets as "joint tenants with right of survivorship" the assets will pass automatically upon your death to the surviving joint tenant(s).
		Other forms of property ownership that avoid probate include life insurance and retirement plans that are contractually payable to a designated beneficiary and accounts and securities designated to be transferred on death (TOD) or payable on death (POD) to a named beneficiary.
	www.jeffirslawoffice.com /joint_owners.html (612 words)

	Joint ownership
		The legal regulations of joint ownership contain the legal relationship among the co-owners, the way of exercising the rights of an owner (possession, usage, utilization, disposition) and the way of obligation (bearing of burdens).
		Consequently the joint ownership doesn't mean the division of the thing but the division of the ownership.
		This requires the agreement of the co-owner acquiring ownership, unless ownership of part of a real property is transferred by court order to the co-owner residing on such property and such action does not violate the reasonable interests of the tenant.
	www.hidasi.hu /menu_65_eng.htm (1290 words)

	[No title]
		Joint ownership can also be the result of an assignment of IP rights to two or more persons.
		Typically, joint ownership is created where an IP right comes into existence by the efforts of two or more persons, such as a collaborative invention or joint creation.
		Joint ownership, in this sense, equates to joint authorship.
	www.ipr-helpdesk.org /docs/docs.EN/JointOwnership.html (2786 words)

	Estate Planning Articles - Joint Ownership
		Often such use of joint tenancy have unintended effects that can result in someone taking ownership when the initial owner only intended the joint owner to have “limited use of the property” during the initial owner’s life.
		Children of a marriage that ends in death or divorce may be inadvertently dispossessed by, operation of law, by the subsequent joint ownership of their surviving parent with a third party.
		Ownership of property should be carefully evaluated; joint ownership can be a useful tool in estate planning, however careful consideration must be given to its impact on your estate intentions.
	www.tartalaw.com /articles/EstatePlanningJointOwnership.aspx (533 words)

	Joint Ownership of Patents: A to Z - LegalZoom.com
		Joint ownership of a patent occurs simply by applying for a patent with other people.
		Because joint ownership can occur by simply adding an inventor's name to a patent application, inventors should consider whether or not they want to be joint owners before drafting a written agreement.
		If joint ownership is agreed upon by all parties, the written agreement should assign a specific amount of interest to the inventor or inventors of the joint invention. If the inventors simply do not discuss the subject of joint ownership, they may find themselves as joint owners under patent law by default.
	www.legalzoom.com /articles/article_content/article14005.html (684 words)

	Cooley Godward LLP \| News & Publications \| In The News \| Joint Ownership of Intellectual Property
		Parties considering joint ownership should bear in mind that the rules governing the rights of co-owners are different in many foreign countries from those in the U.S. In many foreign jurisdictions, all co-owners must join in licensing the copyright to a third party.
		Parties contemplating joint ownership of patents should consider and, in most cases include provisions in their agreement specifying, how prosecution and maintenance of the patents will be handled.
		[100] Nevertheless, joint ownership may complicate a misappropriation suit. If the other co-owner has disclosed the trade secret, the defendant may assert this disclosure as a defense. Moreover, to qualify as a trade secret, information must be “the subject of efforts reasonable under the circumstances to maintain its secrecy”, Unif.
	www.cooley.com /news/inthenews.aspx?ID=000037472420 (5047 words)

	chapter 12: joint ownership of florida property may increase your federal estate taxes or be otherwise undesirable. (Site not responding. Last check: 2007-10-31)
		Another tax planning concern which develops if property previously held individually is transferred to joint ownership involves the step-up in basis for income tax purposes of the jointly owned assets on the death of the retiree or his spouse.
		The joint owner is in a position to withdraw funds if needed by the retiree if he becomes unable to do so.
		Even where the retiree intends that the surviving joint tenant receive all of the joint assets on the survivor's death, it is also not a good practice to establish such an account.
	www.alipman.com /snowbirdguide/chap12.html (2482 words)

	United States - Joint Inventorship and Joint Ownership of Patent Rights
		Choi was therefore a joint inventor of two claims out of a total of fifty five claims in the patent under consideration.
		A majority of the Federal Circuit held that this rule applied in the present case so that the co-inventor of a single claim is in the absence of having assigned his or her rights to someone else, the co-owner of the entire patent.
		This being the case, the court should in her view have returned to a consideration of the bases for shared ownership, which in her view is based on shared invention so that it is improper to give a contributor to a minor portion of an invention a full share in the originator's patent.
	www.ladas.com /BULLETINS/1999/0399Bulletin/US_JointInventors.html (523 words)

	[No title]
		For applications owned by a joint venture of two or more entities, both the application and the reference must have been owned by, or subject to an obligation of assignment to, the joint venture at the time the invention was made.
		The requirement for common ownership at the time the claimed invention was made is intended to preclude obtaining ownership of subject matter after the claimed invention was made in order to disqualify that subject matter as prior art against the claimed invention.
		In such cases, the examiner may explain why the accuracy of the representation is doubted, and require objective evidence of common ownership of, or the existence of an obligation to assign, the application being examined and the applied reference as of the date of invention of the application being examined.
	www.uspto.gov /web/offices/pac/mpep/documents/0700_706_02_l_2.htm (2085 words)

	Columns: This joint ownership affords protections
		That's a special type of joint ownership limited to husbands and wives.
		You probably know that this type of ownership gives the surviving spouse sole ownership when the first spouse dies.
		Clearwater lawyer Alan Gassman said a Florida husband and wife are presumed to own joint accounts as tenants by the entireties if certain conditions are met.
	www.sptimes.com /2003/12/07/Columns/This_joint_ownership_.shtml (833 words)

	Joint Tenancy Q and A
		The term "right of survivorship" means that upon the death of one joint owner, title passes by "operation of law" to the surviving owner who receives sole ownership of the asset.
		Joint tenancy ownership does not provide protection for children when a surviving spouse remarries after the death of the first spouse.
		However, when a parent places a child on as a joint tenant on their real estate, stocks or other investments, they are often unaware that they have made a gift of one-half of the value of the property.
	library.findlaw.com /2000/Apr/1/129100.html (702 words)

	Minnesota Joint Tenancy and Tenancy in Common - Joint Ownership of Real Estate
		Joint tenancy and tenancy in common are the two most common forms of joint ownership of real estate.
		When a joint tenant dies, the surviving joint tenant(s) are then the owners of the deceased owners' share.
		Joint tenancy is the most common form of joint ownership among spouses, especially when neither spouse have children from prior relationships.
	www.titleminnesota.com /joint_own.htm (234 words)

	FamilyHaven: Joint Ownership Considerations (Site not responding. Last check: 2007-10-31)
		Joint ownership is perhaps the most misunderstood part of estate planning.
		Joint ownership is a good way to avoid probate, because the property passes automatically from one spouse to the other without going through probate.
		When the joint owners are married, the marital deduction (discussed later) eliminates any tax on the property.
	www.familyhaven.com /retirement/joint.html (168 words)

	The Perils of Joint Ownership
		The tax laws are quite clear on this point: except for a husband and wife, the creation of a joint ownership with right of survivorship does not take any portion of the asset out of the taxable estate of the original owner unless the new joint tenant pays for their share of the asset.
		The same convenience of a joint account can be obtained through the use of a power of attorney for an account given by the elderly parent to the adult offspring.
		The sloppy use of joint ownership can create a contentious situation where people may honestly differ over what was intended, or a golden opportunity for someone to steal a fortune and get away with it.
	www.patgibbs.com /PerilsJointOwner.htm (779 words)

	Virginia Real Estate Closings & Title Insurance - Joint Ownership
		Joint tenancy is similar to tenants by the entirety but the co-owners are not married.
		Joint tenants are not married so they are not treated as one legal entity.
		Joint ownership agreements are not limited to equity sharing type arrangements between an investor and an occupant.
	www.virginiaclosings.com /6.html (2292 words)

	Asset Protection Florida : Tenants by Entireties & Joint Property: Orlando Florida Asset Protection Attorney
		Upon the death of one spouse, ownership is vested by operation of law in the surviving spouse.
		Whether a married couple owns property as unprotected joint tenants with survivorship or as protected tenants by entireties depends on the intent of the spouses.
		Likewise, a death of one spouse terminates the tenants by entireties and vests the property solely in the surviving spouse.
	www.alperlaw.com /joint_ownership.html (488 words)

	Joint Authorship Doctrine
		The "joint authorship" doctrine involves a "sharing" of rights, although hopefully, especially if the publisher is a co-author, it is a deliberate sharing of rights and not an inadvertent loss of the publisher's complete ownership of rights in the work of authorship.
		The Copyright Act provides for joint authorship when a work is prepared by more than one author "with the intention that their contributions be merged into inseparable or interdependent parts of a unitary whole".
		If joint authorship exists, the authors of the "joint work" will be recognized as the co-owners of the copyright in that work.
	www.publaw.com /joint.html (1036 words)

	Joint Ownership & Estate Planning © 2002 Newland & Associates PLC
		It is not uncommon to find individuals who have decided to approach estate planning by putting real estate, often a home, in joint ownership, usually with a husband and wife, and an adult child or children.
		Another problem with any form of joint ownership is the need to get the signatures of all the owners when the property is to be sold.
		In my opinion, the alternative to joint ownership is to do estate planning or at least plan what you want to happen in the event various contingencies arise.
	www.tax-business.com /nbn0206.htm (731 words)

	Joint Ownership
		If you are beneficial joint tenants and wish to become tenants in common (and remember that you need to be tenants in common for any of the trust deeds to be effective) then the procedure you need to depends on whether the property has a registered title or an unregistered title.
		Once this has been done a note (called a memorandum) of the change of method of ownership (called severance of joint tenancy) should be written onto the conveyance to the joint owners.
		The first is a declaration as to the change of method of ownership and the second is to withdraw the joint proprietorship restriction registered at HM Land Registry.
	www.questbrook.co.uk /joint.htm (1165 words)

	How Individuals Share Ownership of Real Estate in Massachusetts
		In addition to sole, individual ownership, there are three primary forms of shared or joint ownership to property, both real and personal, in Massachusetts.
		A joint tenancy is created in the grantee clause of a deed or other conveyance by the words "¼as joint tenant with right of survivorship¼" This is sometimes abbreviated as "JTWROS." Not every deed that describes co-owners as joint tenants is sufficient to create a joint tenancy.
		Upon the death of one of the joint tenants, the title that was held by the deceased person passes automatically to the surviving, remaining joint owners, not to the heirs of the deceased person or to the relatives or persons named in his or her will.
	www.massrelaw.org /shareownership.htm (890 words)

	UC Copyright
		A joint work is a work prepared by two or more individuals, with the intention that their separate contributions be merged into a single work.
		For a number of reasons collaborators should try to clarify joint ownership interests in a written (or even an oral) agreement -- clarifying such issues as ownership and use issues, rights to revise the works, marketing and sharing of any revenue, and warranties against copyright infringement.
		At UC the ownership of joint works is determined by assessing the category of work for each of the contributors as defined in Section V of the Policy on Copyright Ownership.
	www.universityofcalifornia.edu /copyright/ownership.html (1748 words)

	FDIC: Your Insured Deposits
		Insurance coverage of joint accounts is not increased by rearranging the owners’ names or by changing the styling of their names.
		Mary’s ownership share in all joint accounts equals 1/2 of the NOW account ($12,500), 1/2 of the savings account ($50,000), and 1/3 of the CD ($50,000), for a total of $112,500.
		Since her coverage in the joint ownership category is limited to $100,000, $12,500 is uninsured.
	www.fdic.gov /deposit/deposits/insured/ownership3.html (399 words)

	Shelter: Joint ownership
		The type of joint ownership you have will affect how you share your home and who can inherit it if you die, but you both have the right to stay in your home if you split up.
		The word 'tenants' is used to describe the different types of joint ownership, but it has nothing to do with renting.
		If you have a joint mortgage you will both be responsible for the monthly payments, even if one of you has moved out.
	england.shelter.org.uk /advice/advice-471.cfm (1171 words)

	Current Issues and Resources: Ownership Issues - UMUC (Site not responding. Last check: 2007-10-31)
		This section includes websites and articles that address joint ownership, academic freedom and general discussion of the definition of "author" in academia.
		Welsh, J.F. Course ownership in a new technological context.
		Reporting of a Third District Federal case pertaining to a graduate student's and mentor's joint ownership of research paper.
	www.umuc.edu /distance/odell/cip/links_ownership.html (2332 words)

	A Theory of Joint Ownership (ResearchIndex) (Site not responding. Last check: 2007-10-31)
		Abstract: We show that joint ownership (partnership or joint venture) can implement rst best in a twice repeated game when each agent believes that the other party is honest with a very small probability.
		In the nal period the ownership structure is renegotiated because joint ownership is ex post ine#cient.
		If an agent has cheated her outside option is very low since by cheating she has lost her reputation while an unrevealed agent has a much higher outside option.
	citeseer.ist.psu.edu /699835.html (475 words)

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