What does the not as tenants in common but with right of survivorship mean? 3 Answers as of August 07, 2015

What does the statement mean in it's entirety in the State of Oregon?

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Oliver & Duncan | Donald E. Oliver
The phrase, not as tenants in common but with right of survivorship is used when two or more people are listed as grantees of real property on a deed but they do not have equal rights to the occupation and use of the property. In other words, if you bought a house for your own use but you wanted to bequeath it to your child when you die, you can use this phrase to describe that relationship in the deed and your your Will. If you die first, the child named as your tenant in common gets the property free and clear but if that child dies first it is still your property alone.
Answer Applies to: Oregon
Replied: 8/7/2015
James Oberholtzer, Attorney at Law
James Oberholtzer, Attorney at Law | James Oberholtzer
Tenants in common is a form of joint ownership where typically both tenants own an undivided interest in the real estate. Absent an agreement otherwise, both tenants have the right to occupy the property and are responsible for the expenses of ownership and other liabilities. Upon the death of one tenant in common, the property owned by the decedent passes by the decedent's Will or if none by intestacy. It does not pass to the surviving tenant. I do not know what you mean by "entirety". To state everything about the tenants in common would take 100s of pages.
Answer Applies to: Oregon
Replied: 8/6/2015
Minor, Bandonis and Haggerty, P.C.
Minor, Bandonis and Haggerty, P.C. | Brian Haggerty
In Oregon, the default for two or more people jointly owning real property is tenancy in common. Each owner owns an undivided portion of the property; when an owner dies, that owner's portion of the property is in the deceased owner's estate, and passes through his or her will. If the deed says "not as tenants in common, but with survivorship," then this form of ownership mimics joint tenancy with right of survivorship. When one owner dies, the surviving owner(s) own the whole of the property, and the deceased owner's interest in the property is extinguished.
Answer Applies to: Oregon
Replied: 8/5/2015
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