<p>In our case it was done to avoid probate, so it would depend on how your state handles property in one name only when the owner dies. However, where we live, if the property were to be sold by the main owner under this type of deed the owner would have to declare the entire proceeds as capital gains, so when my dad decided to sell the property we changed the deed back to a sole owner (him) to avoid the capital gains (and prayed nothing happened to him before settlement). As I said we did this based on our attorney’s recommendation and the laws and regulations in our state.</p>