57-1-5 - Creation of joint tenancy presumed -- Tenancy in common -- Severance of joint tenancy -- Tenants by the entirety -- Tenants holding as community property. - Utah Statutes

57-1-5. Creation of joint tenancy presumed -- Tenancy in common -- Severance ofjoint tenancy -- Tenants by the entirety -- Tenants holding as community property.
(1) (a) Beginning on May 5, 1997, every ownership interest in real estate granted to twopersons in their own right who are designated as husband and wife in the granting documents ispresumed to be a joint tenancy interest with rights of survivorship, unless severed, converted, orexpressly declared in the grant to be otherwise.
(b) Every ownership interest in real estate that does not qualify for the joint tenancypresumption as provided in Subsection (1)(a) is presumed to be a tenancy in common interestunless expressly declared in the grant to be otherwise.
(2) (a) Use of words "joint tenancy" or "with rights of survivorship" or "and to thesurvivor of them" or words of similar import means a joint tenancy.
(b) Use of words "tenancy in common" or "with no rights of survivorship" or "undividedinterest" or words of similar import declare a tenancy in common.
(3) A sole owner of real property creates a joint tenancy in himself and another or others:
(a) by making a transfer to himself and another or others as joint tenants by use of thewords as provided in Subsection (2)(a); or
(b) by conveying to another person or persons an interest in land in which an interest isretained by the grantor and by declaring the creation of a joint tenancy by use of the words asprovided in Subsection (2)(a).
(4) In all cases, the interest of joint tenants shall be equal and undivided.
(5) (a) Except as provided in Subsection (5)(b), if a joint tenant makes a bona fideconveyance of the joint tenant's interest in property held in joint tenancy to himself or another,the joint tenancy is severed and converted into a tenancy in common.
(b) If there is more than one joint tenant remaining after a joint tenant severs a jointtenancy under Subsection (5)(a), the remaining joint tenants continue to hold their interest injoint tenancy.
(6) The amendments to this section in Laws of Utah 1997, Chapter 124, have noretrospective operation and shall govern instruments executed and recorded on or after May 5,1997.
(7) Tenants by the entirety are considered to be joint tenants.
(8) Tenants holding title as community property are considered to be joint tenants.

Amended by Chapter 381, 2010 General Session