Buyers
Common Ways to Hold Title
Please consult with your attorney and accountant
Sole Ownership
Ownership by an individual or single entity capable of acquiring title.
A Single Man/Woman
A man or woman who has not been legally married. e.g. John Buyer, a single man.
An Unmarried Man/Woman
Previously married and now legally divorced. e.g. Jill Seller, an unmarried woman.
Married as Sole & Separate Property
A married person acquiring title alone. The spouse must specifically disclaim any interest in the property.
Co-Ownership
Title held by two or more persons in the following forms:
Community Property
Ownership by husband and wife during marriage, owned equally. Both spouses must sign all agreements and documents.
Community Property with Right of Survivorship
Similar to community property, but adds survivorship benefits. On death of a spouse, the surviving spouse owns the property outright.
Joint Tenancy
Two or more persons in equal interest with right of survivorship. Title must be acquired at the same time by the same conveyance.
Tenancy in Common
Two or more individuals in undivided fractional interests. Interests can be unequal; each co-tenant may sell, lease, or will their share.
Other Entities
A Corporation
A legal entity under state law, separate from its shareholders.
A Partnership
An association of two or more persons as co-owners for profit. May hold title in the partnership name.
Trustees of a Trust
Legal title transferred to a trustee to hold and manage for the benefit of named beneficiaries.
Limited Liability Company (LLC)
Combines features of a corporation and partnership. Existence is separate from its owners.
Contact
ted@bartlettre.comtina@bartlettre.comelizabeth@bartlettre.com
Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.