Each husband and wife holds title as between themselves as "Tenants by the Entireties". You stated that the couples, as between themselves have a right of survivorship, therefore, the two couples, as between themselves, hold title as "Joint Tenants" because that is the only way title can be held if the parties want the survivorship element in their title.

Where parties hold title as joint tenants, title to the property cannot be transferred unless all joint tenants join in signing the deed. As for dividing the sale proceeds, since the parties did not have an agreement setting forth their respective capital contributions towards the purchase of the property, the law will assume that their contribution was equal. As a result, if the couple which contributed more towards the purchase price wants more of the sale proceeds, but the other couple disagrees, the elderly couple will have to show proof of the actual amount which they contributed towards the purchase of the property.

Kindest regards,

ANDREA

Each husband and wife holds title as between themselves as "Tenants by the Entireties". You stated that the couples, as between themselves have a right of survivorship, therefore, the two couples, as between themselves, hold title as "Joint Tenants" because that is the only way title can be held if the parties want the survivorship element in their title.

Where parties hold title as joint tenants, title to the property cannot be transferred unless all joint tenants join in signing the deed. As for dividing the sale proceeds, since the parties did not have an agreement setting forth their respective capital contributions towards the purchase of the property, the law will assume that their contribution was equal. As a result, if the couple which contributed more towards the purchase price wants more of the sale proceeds, but the other couple disagrees, the elderly couple will have to show proof of the actual amount which they contributed towards the purchase of the property.

Kindest regards,

ANDREA