By: frak1a12345

frak1a12345 — Wed, 30 Dec 2009 17:41:59 +0000

Fee simple and joint tenancy are not the same type of thing–you are talking apples and oranges. Think of fee simple as how good a hold you have on the property. You hold 100% rights to the property. You can do with it what you will. Most property in the U.S. is held this way but worldwide there are many forms of ownership that limit your ownership rights. Do a google search on fee simple and read the definition of it.
Joint tenancy involves how those rights are passed to another party in the event of the death of an owner by declaring how those rights are held while the owners are alive. Again, there are several types of joint tenancy that have different results–i.e. the property may be passed to other owners("with right of survivorship" which is the most common joint tenancy) or goes to the estate of the deceased where a will takes over distribution("tenants in common"). Again, you should do a search(Wikipedia works also) for joint tenancy and read up and educate yourself as to the different outcomes of each type of ownership and then decide for yourself what will work best.
Don’t make any decisions based on what you read on this board–we are not experts and this is too big a decision to be made lightly. One last thing–it may be best if you consult a lawyer if you still have any questions or doubts. Good luck!
References :

By: Lesley

Lesley — Wed, 30 Dec 2009 17:01:59 +0000

I think you and your parents should sit down with an attorney about this, maybe also an accountant. But if you can't afford the payments yourself that is something to be concerned about. And don't assume student loans can't attach to your house either (but you would be in repayment and default for that to happen).
References :

Comments on: Should my parents put my name on the house deed/title? If so, should it be in a joint tenancy or fee simple?

By: frak1a12345

By: Lesley