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.
The second option -- formally called joint tenancy with the right of survivorship -- is a way to hold title in more than one person's name.Joint tenancy means that you and I own the property together, and if one of us dies, the other gets it without the property passing through probate, says Polomis.