Tenancies in Utah

Joint Tenancy with Right of Survivorship

From WFG Wiki:

Recognizes Joint Tenancy and Tenancy in common

• subsequent to May 5, 1997 any ownership interest granted to two people who are designated as husband and wife ”is presumed to be a joint tenancy interest with rights of survivorship. 57-1-5(1)(a)
• joint tenancy may be established between two or more people. But not with a corporation; a trustee of a trust; or a partnership. or between multiple entities and organizations.
• Specific Phrasing Required for Joint Tenancies
  • Use of words "joint tenancy" or "with rights of survivorship" or "and to the survivor of them" or words of similar import means a joint tenancy.
  • Use of words "tenancy in common" or "with no rights of survivorship" or "undivided interest" or words of similar import declare a tenancy in common.
  • Use of words "and/or" in the context of an ownership interest declare a tenancy in common unless accompanied by joint tenancy language described in Subsection (2)(a), which creates a joint tenancy.
• Unities
  • May create joint tenancy by direct transfer without use of a Straw man 57-1-5(3)
  • Conveyance of joint property severs tenancy and converts joint tenancy into a tenancy in common. If more than one one joint tenant remains after a joint tenant severs a joint tenancy, the remaining joint tenants continue to hold their interest in joint tenancy
• Statute recognizes conveyance into Tenancy by Entireties and Community Property as creating joint tenancy. 57-1-5(7) & (8)
• Utah allows termination of joint tenancy, tenancy by entirety (recognized as joint tenancy), term of years, life estate or conditional interests by recorded affidavit. 57-1-5.1. Specific form of affidavit required for terminations as the result of death.

Cross-References

• Utah
• Tenancies