I enjoyed the discussion we had on the last Hypothetical Question so much, I thought I would pose another:

Herbert and Wilma, husband and wife, own real estate "for their joint lives, remainder to the survivor of them."  They took title in 1997. 

In 2010, Herbert conveys his half-interest to his sons, Steve and Saul, as co-trustees of Herbert's Living Trust.  Later that same year, Herbert dies.

A few weeks after Herbert passes away, Wilma files an Affidavit of Surviving Joint and Survivorship Tenant to convey Herbert's half-interest to her as the surviving tenant.

Who owns the property?

Again, state law may vary and the answer may depend on the laws of your state.  Just like the last hypothetical - it may be interesting to hear how those laws differ.  And, again, this is based on a real life set of facts.

Best,
Robert A. Franco
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