My two siblings and I own a piece of property as joint tenants. Will it be a problem to be issued 3 separate cheques when we sell the property since my siblings both live out of Province? It sure would make it easier.
It is our office policy, and should be of most offices, to issue one cheque payable to all the parties on title when you hold it as “joint tenants”. Joint tenancy means that you do not own an “undivided” 1/3 interest – the 3 of you own 100% of the property together jointly. If you…