Asked by Karen Macauley on Jul 20, 2024

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One way to transfer property outside the probate process, and thereby avoid the costs, is to own property in joint tenancy.

Joint Tenancy

A form of co-ownership where two or more individuals own property together with right of survivorship, meaning upon the death of one owner, the property automatically passes to the surviving owner(s).

Probate Process

The legal process through which a deceased person’s estate is validated and administered, involving the resolution of claims and distribution of the estate under a valid will or state law.

  • Identify ways to transfer property outside of the probate process.
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SM
Sabrina MitchellJul 23, 2024
Final Answer :
True
Explanation :
Owning property in joint tenancy with the right of survivorship means that when one owner dies, the property automatically passes to the surviving joint tenant(s) without going through probate.