National Credit Union Administration. The National Credit Union Administration (NCUA) is the independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions.
This joint tenancy severance is necessary to change your tenancy from a joint tenancy to a tenancy in common. This notice will record the current ownership of the property as well as the change in ownership. Ask a lawyer to discuss your specific legal situation.
Joint Tenancy with a Right of Survivorship. Under a tenancy in common, co-tenants may leave their interests to heirs. In a joint tenancy, co-tenants cannot devise their interest. In other words, joint tenants with rights of survivorship cannot leave their interest to heirs in a will. Instead, co-tenants own undivided, fractional interests, but at the death of each co-tenant, the interest of the deceased co-tenants pass automatically to the surviving co-tenants.