Bulletin: CA000029

Dear Associates:

Assuming that a joint tenancy has been properly created, subsequent transactions shall not require additional disclaimer of interest of spouses of the respective joint tenants.

The creation of a valid joint tenancy requires that the parties to the joint tenancy acquire the same property, from the same source, at the same time. Where one party to a marital community, and not the other party, is to become one of the joint tenants, we require that the non-joint tenant spouse execute a deed disclaiming any community property interest in the joint tenancy property. In such instance, the deed disclaiming interest should name all of the members of the joint tenancy as the grantees. Where possible, joinder of the disclaiming spouse(s) as grantors (with a recital giving the reason for the joinder) in the original conveyance creating the joint tenancy is considered the best means of accomplishing the desired end.

Once such a disclaimer has been accomplished, we will not require similar documentation from the same party.

Questions or comments should be directed to your Stewart Title underwriter.