Conjunction on Titles

Conjunctions AND, OR & Transfer-on-Death mean:

AND

• Tenancy in common
• 2 or more names on title, and is default conjunction added to title
• a signature is required for each owner unless showing DBA+name

OR

• Definition: Joint tenancy (2 or more names on title)
• OR indicates rights of survivorship
• if an owner passes away, only 1 signature is needed from the surviving owner
• if all owners are alive, a signature is needed from all owners

TRANSFER-ON-DEATH

• names beneficiary/beneficiaries (not the same as a trust)
• name(s) appear on the title followed by (TOD)
• allows transfer after death by beneficiary (TOD)
• requires proof of death on transfer (death certificate, obituary, memorial card)
• beneficiary name (TOD) does not need to sign as seller if owner is still alive
• adding TOD beneficiary as buyer requires (1) PS2004 per TOD beneficiary being added
• if the owner is married, but the TOD beneficiaries are not the spouse, the spouse must sign acknowledging the beneficiaries are not them

Check list of Out of State conjunctions for out of state titles with multiple names to assure correct signatures are present.