Property Transfer Tenancy Types

Summary

In Wisconsin, when property is transferred to multiple parties through a quitclaim deed, it usually results in a tenancy in common unless specified otherwise. Tenancy in common allows each party to own a distinct share of the property, which can be sold or inherited independently. If the deed specifies joint tenancy with rights of survivorship, the property will automatically pass to the surviving owners upon the death of one owner. Understanding these distinctions is crucial for property co-owners.