How can two individuals own property with rights to survivorship if one wants to put in a trust?

Currently, 2 individuals hold title in a piece of property as joint tenants with right of survivorship. One of the individuals wants to put their interest into a revocable trust. Can the trust and the remaining individual hold title as joint tenants with right of survivorship? If not, would the 2 entities have to hold title as tenants in common?

Transfer by one of the individuals of his/her interest in the property to a trust would destroy the joint tenants with rights of survivorship (JTROS) status and make cause the ownership to be held as tenants in common.

*****************************************************************************

If you view this content and need to ask a related question or need services that relate to this question, Contact me.

All content is for informational purposes only. It is also only intended to relate to Mississippi Estate Planning Law. If other states are mentioned, they are mentioned as an example only. No legal advice is provided in this content. Laws change so you need to check for any updates by current laws in Mississippi.

How can two individuals own property with rights to survivorship if one wants to put in a trust?

Categories

All of Mississippi